WASHINGTON, D.C. (RFD-TV) — Export movement from the United States this week tilted bullish for corn and wheat, while soybeans trailed last year’s pace.
For the week ended October 16, inspections totaled 1.32 million tons for corn (up from 1.21 million last week and above 1.00 million a year ago) and 480,614 tons for wheat (447,531 last week; 270,571 a year ago). Soybeans cleared 1.47 million tons, rebounding week over week but well below 2.55 million a year earlier. Sorghum remained light at 2,195 tons.
Marketing-year-to-date corn inspections reached 9.34 million tons (vs. 5.81 million last year), soybeans 5.54 million (vs. 8.01 million), and wheat 11.19 million (vs. 9.30 million).
The Gulf led volumes, notably Mississippi River loadings, with added strength from North Texas. Pacific Northwest shipments featured soft white wheat and soybeans, while interior rail/river moves supported sizable soybean loadings to Mexico and Taiwan. Soybean destinations skewed toward Bangladesh, Egypt, Germany, Japan, Pakistan, Spain, and Vietnam. Wheat classes were led by soft white through the Columbia River, alongside hard red winter wheat from Texas and the Gulf.
Farm-Level Takeaway: Corn and wheat inspections outpaced last year, but soybean movement remains seasonally active yet behind, keeping basis and freight dynamics in focus by corridor.
Tony St. James, RFD-TV Markets Expert
We caught up with Karen Braun, Chief Market Analyst at Zaner Ag Hedge, at the Women in Agribusiness to discuss the data behind commodity trading.
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