WASHINGTON, D.C. (RFD NEWS) — U.S. grain export inspections stayed solid for the week ending May 7, with corn still leading the export pace and soybeans posting a strong weekly rebound. USDA inspected about 66.6 million bushels of corn, down from 80.3 million the previous week but 30 percent above the same week last year.
Corn inspections for the marketing year reached about 2.25 billion bushels, up 30 percent from last year’s 1.73 billion. Soybean inspections totaled about 24.1 million bushels, up from 18.6 million a week earlier and 49 percent above last year.
Wheat inspections reached about 18.8 million bushels, slightly above the previous week and 26 percent higher than a year ago. Sorghum inspections totaled about 3.1 million bushels.
Mexico remained a key destination for corn, while China was a major destination for soybeans and sorghum. Wheat movement was led by Pacific and Gulf shipments.
Farm-Level Takeaway: Corn export inspections remain well ahead of last year, while soybeans showed a stronger weekly pace despite weaker marketing-year totals.
Tony St. James, RFD News Markets Specialist
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