U.S. grain exports softened last week, according to the USDA’s latest export inspections report on Monday. U.S. corn movements declined 10 percent from the previous week to 1.19 million metric tons (MMT) during the week ending Oct. 23. Volumes remained 38 percent ahead of the same week last year and well above the five-year average.
Mexico was the top destination for the week, followed by Colombia and South Korea. Portugal and Honduras also landed in the top five.
Accumulated corn inspections for the marketing year rose to 10.53 MMT, up 58 percent year-over-year.
Soybean export inspections fell to 1.06 MMT, down 33 percent from the previous week and 60 percent lower than the same week last year. Shipments declined sharply due to smaller volumes to key buyers.
Mexico remained the top destination, with 155,000 metric tons (MT), compared to 221,000 MT the previous week. Egypt was the second-largest destination last week but still took fewer soybeans than the previous reporting period.
Year-to-date soybean inspections rose to 6.72 MMT, down 37 percent from a year ago. Mexico remained the largest destination for U.S. soybeans during the 2025/26 season, representing about 16 percent of total exports. Egypt the second-largest destination (13 percent), followed by Bangladesh (7.7 percent) and Pakistan (6.7 percent).
U.S. wheat export inspections fell 48 percent last week to 258,500 MT. Volumes were also 12 percent lower than the same week last year. Movements remained above the five-year average despite slipping below year-ago levels.
Wheat exports tend to hit their seasonal low in October and November before gradually increasing throughout the winter months. South Korea was the top destination for the week, followed by Vietnam and Japan.
Total inspections for the marketing year rose to 11.46 MMT, up nearly 20 percent from last season. Mexico has been the top destination of those exports this season, with the Philippines as a far second.
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