U.S. corn export inspections softened last week, while soybean movements continued to push above year-ago levels, according to the latest USDA Grain Export Inspections report on Monday. During the week ending Feb. 26, U.S. corn inspections totaled 1.86 million metric tons (MMT), down 8 percent from the previous week. Volumes remained 37 percent above the same week last year despite the weekly decline and were the third-largest for the marketing year.

Mexico was the No. 1 destination for U.S. corn during the week, followed by South Korea, Japan, and Spain. Accumulated corn export inspections for the 2025/26 marketing year rose to 39.62 MMT, up 45 percent from the previous season.

Soybean movements rose 67 percent from the previous week to 1.14 MMT, rebounding from their multi-month lows. Volumes were also 62 percent higher than the same week last year and were the highest for the week since the 2023/24 season.

China remained the top destination for another week. Germany, Mexico, and Egypt also landed in the top five destinations. Still, volumes for the marketing year were 30 percent lower than the previous season at 26.18 MMT. Non-China soybean exports continued to run at the fastest pace out of the past five years due to strong buying early in the season. However, that has been broadly offset by a 68 percent decline in shipments to China.

For the week ending Feb. 26, wheat export inspections totaled 344,300 metric tons (MT), down 39 percent from the previous week and 12 percent lower than the same week last year.

The Philippines was the No. 1 destination for the week, followed by Tanzania and Mexico. Despite lower disappointing volumes since the third quarter of the marketing year, volumes remained about 19 percent higher than a year ago at 18.62 MMT.

Sorghum export inspections rose 19 percent during the week to 237,900 MT. Volumes were sharply higher than the same week last year and the third-largest for the marketing year. China accounted for all of the inspections. Year-to-date inspections are now running 46 percent ahead of last year at 2.17 MMT.

—

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.