Soybean Export Inspections Fall, Behind Last Year's Pace

Soybean Export Inspections

Soybean export inspections have experienced a decline in recent weeks, with shipments falling behind last year's pace. During the week ending on October 26th, the Department of Agriculture reported that soybean export inspections reached a total of 1.89 million metric tons. This figure represents a decrease from the 2.63 million tons reported the previous week, as well as the 2.59 million tons recorded during the same period last year. Overall, soybean inspections for the entire year are down 2.7% compared to the previous year.

Corn and Wheat Shipments Increase

On a more positive note, corn and wheat shipments have seen an increase from the previous week. According to the USDA, corn inspections reached a total of 531,516 tons, while wheat inspections reached 189,842 tons - both figures are higher than those recorded last week and during the same period last year.

Leading Destinations for US Grain

During the week, China was the leading destination for US soybeans, while the Philippines claimed the top spot for wheat and Mexico for corn.

CBOT Grain Futures

In this morning's market, CBOT grain futures are showing a downward trend. The most-active corn futures are down 0.2%, soybeans down 0.5%, and wheat down 0.6%.

For more detailed data, search "USDA Grain Inspections for Export in Metric Tons" in Dow Jones NewsPlus.