U.S. Corn Export Inspections Jump 29%

By Kirk Maltais

U.S. export inspections of corn perked up for the week through September 7, according to government data.

Corn export inspections rose 29% to a total of 623,862 metric tons for the week, the U.S. Agriculture Department's latest report showed. That's up from the 482,789 tons reported the USDA cited in its report for the previous week. Soybean export inspections fell from the previous week, dropping to 310,073 tons, while wheat inspections inched up to 406,181 tons.

September 1 marked the beginning of the new 2023/24 marketing year for corn and soybeans. They finished the previous marketing year of 2022/23 with corn inspections 32% behind the previous year and soybean inspections down 8%.

To start the new marketing year, corn is now 4.4% ahead of last year's pace - while soybeans are down 21.3%. Wheat inspections are off by 26% from where they were last year.

Japan was the leading destination for wheat for the week, according to the USDA. China was the leading destination for both corn and soybeans.

In Monday trading, grain futures on the CBOT were mixed with the most-active corn futures down 0.3%, soybeans up 0.4%, and wheat down 1.9%.

To see related data, search "USDA Grain Inspections for Export in Metric Tons" in Dow Jones NewsPlus.

Write to Kirk Maltais at [e-mail]

(END) Dow Jones Newswires

09-11-23 1152ET