U.S. corn export inspections softened last week but held at seasonal highs, while soybean movements improved slightly, according to the USDA on Monday. Corn movements totaled 1.43 million metric tons (MMT) during the week ending Nov. 6. Volumes were down nearly 17 percent from the previous week but was 76 percent higher than the same week last year. 

Inspections were at the lower end of market expectations but continued to post an impressive print compared to previous seasons. Mexico was the No. 1 destination for U.S. corn during the week. Colombia, Taiwan, South Korea, and Japan rounded out the top five. Accumulated corn exports for the marketing year rose to 13.73 MMT, up 65.7 percent year-over-year. 

Soybean export inspections rose 10 percent from the previous week to 1.09 MMT, though volumes remained 54 percent lower than the same week last year. Movements were a 17-year low for the week amid the absence of shipments to China. Shipments to China may not appear in the inspections report for some time due to recent U.S. purchases set for delivery this winter. 

Pakistan was the top destination for U.S. soybeans during the week, followed by Egypt. Year-to-date shipments are running 42 percent below last season at 8.90 MMT, the slowest pace since 2013. 

Wheat inspections fell 17 percent from the previous week to 290,500 metric tons. Volumes were also about 18 percent lower than a year ago but aligned with the five-year average. 

Mexico was the top destination for the week, followed by the Philippines. U.S. wheat exports officially entered their seasonal lull over the past couple of weeks. But strong exports early in the season put marketing-year-to-date totals well ahead of last year. Accumulated shipments for the season rose to 12.12 MMT, running about 19 percent ahead of last year. 

Sorghum export inspections fell sharply from the previous week to 33,200 MT. All of the volumes were destined for Spain. Year-to-date inspections rose to 262,500 MT, down 63 percent from the previous season and the slowest pace since the 2022/23 marketing year. 

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