By Kirk Maltais
Export inspections of U.S. corn for the week ended Nov. 28 are down from both this time last week and last year, the Department of Agriculture reports.
In its latest weekly report, the USDA said corn export inspections totaled 935,859 metric tons for the week. That's down from 1.01 million tons last week, and down from 1.18 million tons from this time last year.
But year-to-date, the USDA said corn export inspections remain ahead of last year's pace. The USDA said for 2024/25, inspections total 11.07 million tons, which is up 31% from 2023/24.
Soybean and wheat inspections also are down from this time last week, the USDA said, with soybean inspections at 2.09 million tons and wheat at 296,106 tons. However, both are higher than this time last year, and both are ahead of last year's pace year-to-date.
Sentiment around U.S. corn demand has been improving, said Naomi Blohm of Total Farm Marketing in a note. "U.S. corn demand is ahead of schedule for both ethanol and exports," said Blohm, adding that analysts question if this month's WASDE report from the USDA will show that increased demand.
Grain futures on the CBOT are mixed in morning trade, with most-active corn up 0.3% while soybeans fall 0.9% and wheat rises 0.4%.
To see related data, search "USDA Grain Inspections for Export in Metric Tons" in Dow Jones NewsPlus.
Write to Kirk Maltais at kirk.maltais@wsj.com
(END) Dow Jones Newswires
12-02-24 1156ET
