U.S. Corn Inspections Fall to Lowest Level in Seven Months

By Kirk Maltais

Export inspections for U.S. corn fell back from the previous week, bringing total shipments of all three row crops to their lowest total since last year.

In its latest grain export inspections report, the U.S. Department of Agriculture said that corn export inspections for the week ended April 20 totaled 913,813 metric tons, down from 1.24 million tons reported the previous week. Soybean inspections totaled 374,960 tons, down from 530,342 tons last week, and wheat inspections rose to 363,826 tons from 252,481 tons.

The combined inspections of the three row crops were the lowest total since the third week of the 2022/23 marketing year, says Terry Reilly of Futures International.

Japan was the leading destination for U.S. corn, while the Philippines was the leading destination for wheat and China was the leading destination for soybeans.

Weakness in export sales has been a factor pressing on CBOT grain futures on Monday, as China announced the cancellation of 327,000 metric tons of corn previously purchased.

In Monday's session, corn futures on the CBOT are down 0.8% and wheat lower by 0.7%, while soybeans are up 0.5%.

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

04-24-23 1214ET