WASHINGTON, D.C. (RFD NEWS) — U.S. export inspections turned in another strong corn week, while soybean movement eased and wheat improved modestly. USDA said total grain inspected for export during the week ending April 30 reached the equivalent of about 120.3 million bushels across major commodities, up from the previous week and above the same week last year.
Corn led the report. Inspections reached about 79.8 million bushels, up from 65.2 million the week before and above 63.7 million a year earlier. Marketing-year corn inspections now stand at about 2.18 billion bushels, well ahead of roughly 1.67 billion at this point last year.
Soybeans moved lower. Weekly soybean inspections totaled about 16.5 million bushels, down from 23.5 million the previous week, though still above 12.3 million a year ago. China remained the top soybean destination, followed by Mexico, Indonesia, and Saudi Arabia.
Wheat inspections rose to about 15.9 million bushels from 13.6 million the prior week and edged above the same week last year. Marketing-year wheat inspections reached about 819.1 million bushels, up from roughly 731.8 million a year earlier.
Sorghum inspections stayed solid at about 5.6 million bushels, with nearly all of that volume moving to China. The latest report showed export demand still leaning heavily toward corn, while soybean movement lost some momentum week to week.
Farm-Level Takeaway: Corn export movement remains the strongest piece of the grain export picture, while the soybean pace has softened from the prior week.
Tony St. James, RFD News Markets Specialist
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