Overview
According to the latest weekly grain export inspections report released by the United States Department of Agriculture (USDA), export inspections of U.S. wheat have shown an increase in the week ended Jan. 18. Meanwhile, soybeans inspections have declined, and corn inspections have also witnessed a decrease.
Wheat Inspections
During the previous week, wheat inspections reached a total of 314,521 metric tons, which is up from a previous estimate of 242,409 metric tons. This notable increase is significant for the wheat market.
Current Market Year
As of Jan. 18, wheat export inspections for the current market year amounted to 10.7 million tons. It is worth noting that this figure represents a decrease from the previous year's 12.78 million tons.
Soybeans Inspections
Weekly soybeans inspections have shown a decline, totaling 1.16 million tons as compared to the revised estimate of 1.28 million tons in the previous week. Furthermore, soybeans inspections for the marketing year have fallen below the levels observed in the previous year.
Corn Inspections
In a similar fashion, weekly corn inspections fell to 713,290 tons from a revised estimate of 946,417 tons. However, when considering the marketing year as a whole, corn inspections are higher than those recorded in the previous year.
Main Destinations
China emerged as the primary destination for U.S. wheat exports in the past week, while Mexico accounted for the largest amount of corn exports.
Market Performance
On the Chicago Board of Trade (CBOT), the wheat contract for March delivery experienced a rise of 0.8% after initially opening on a downward trend. Similarly, soybeans saw a rise of 0.5%, while corn witnessed a slight increase of 0.1%.
Related Data
For more details and related data, interested individuals can search for "USDA Grain Inspections for Export in Metric Tons" on Dow Jones NewsPlus.
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