WASHINGTON, DC (RFD NEWS) — Corn export inspections remained the strongest weekly grain signal for the week ending May 21. USDA inspected 62.3 million bushels of corn, up from 55.1 million the previous week and 55.9 million one year ago.
Corn marketing-year inspections reached 2.37 billion bushels, more than 518 million ahead of last year. Soybean weekly inspections totaled 21.0 million bushels, nearly unchanged from the previous week but well above last year’s 7.3 million.
China was listed for about 5.0 million bushels of soybeans moving through Puget Sound and the Mississippi River. China also received nearly all of the inspected sorghum, but total sorghum volume collapsed to about 122,000 bushels from 5.6 million bushels the previous week.
Wheat inspections improved to 13.5 million bushels from 8.7 million, but trailed last year’s 20.7 million. Near the end of the wheat marketing year, inspections totaled 862.7 million bushels, up from 783.1 million one year earlier.
Corn remains the leading shipment story, while China activity supports soybean and sorghum movement despite lighter marketing-year soybean inspections.
Farm-Level Takeaway: Corn inspections remain strong, while China continues providing important demand for soybeans and limited sorghum movement.
Tony St. James, RFD News Markets Specialist
Lower freight costs helped sustain export demand amid a challenging pricing environment.
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