Corn and wheat export inspections declined last week, while soybean inspections recovered slightly, according to recent data from the USDA on Monday. U.S. corn movements totaled 1.42 million metric tons during the week ending Nov. 27, down 16 percent from the previous week, but remained 50 percent higher than a year ago.

Japan was the No. 1 destination for the week, followed by Mexico and Colombia. Accumulated inspections for the marketing year rose to 18.97 MMT, about 71 percent above the previous season.
Soybean movements rose nearly 14 percent last week to 920,200 metric tons (MT), though inspections were still more than 50 percent lower than the same week last year. It’s already well past peak export season for soybeans.

Italy was the top destination for the week, with Egypt, Mexico, Pakistan, and the United Kingdom rounding out the top five. China remained absent from the list again. Year-to-date inspections rose to 11.87 MMT, with shipments sitting 45.6 percent below last year.
Wheat export inspections fell 20 percent last week to 384,900 MT. However, volumes remained nearly 30 percent above the same week last year and held above seasonal averages. Seasonally, exports should trend higher through the winter months.

Vietnam was the top destination for U.S. wheat during the week, followed by Mexico and Bangladesh. Accumulated export inspections rose to 13.23 MMT, remaining 20 percent above the previous season. Additionally, inspections are running at the best pace since 2016/17.
Sorghum movements fell sharply last week to 49,100 MT and were well below the same week last year. Mexico was the primary destination of those shipments. Small volumes were reportedly sent to China. Year-to-date shipments rose to 469,200 MT, about 57 percent below last year.
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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
