By Kirk Maltais


Export inspections of U.S. soybeans have surged from the previous week, but remain well-behind the pace of last year as South American soybeans continue to be stiff competition.

The USDA reported Monday that soybean inspections for the week ended Feb. 1 totaled 1.43 million metric tons. That's significantly higher than 913,448 tons reported for the same time last year, although not as high as 1.91 million tons reported at this time last year.

Even so, soybeans are still well behind the pace of last year's cumulative total - dragging by 23.6% at 29.12 million tons. Traders say that competition from South American sources are keeping a lid on U.S. shipments.

Corn and wheat inspections are both down from the previous week - with corn totaling 624,925 tons and wheat totaling 266,269 tons.

Corn and soybeans pared early losses and are now higher, with those most-active contracts up 0.3% and 0.5%, respectively. Wheat is down 1.2%.


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

02-05-24 1148ET