Posted on March, 25, 2025 at 10:10 am
USDA’s latest set of grain export inspection data, out Monday morning and covering the week through March 20, held mostly bullish numbers for traders to consider. Wheat volume was again pleasantly surprising after jumping ahead of the entire range of analyst estimates. Corn volume faded slightly below the prior week’s volume, while soybeans made moderate week-over-week improvements.
Corn export inspections were down a bit week-over-week, but still posted solid results totaling 57.6 million bushels. That was also on the higher end of analyst estimates, which ranged between 39.4 million and 66.9 million bushels. Cumulative totals for the 2024/25 marketing year remain noticeably higher than last year’s pace after reaching 1.270 billion bushels.
Mexico was the No. 1 destination for U.S. corn export inspections last week, with 18.7 million bushels. Japan, South Korea, Colombia and Spain rounded out the top five.
There were no sorghum export inspections last week, leaving totals for the 2024/25 marketing year at 61.2 million bushels. That’s less than half of last year’s volume so far.
Soybean export inspections moved moderately higher week-over-week to 30.2 million bushels. That was also on the very high end of analyst estimates, which ranged between 11.0 million and 33.1 million bushels. Cumulative totals for the 2024/25 marketing year are still trending moderately above last year’s pace after reaching 1.467 billion bushels.
China was the No. 1 destination for U.S. soybean export inspections last week, with 14.9 million bushels. Egypt, Japan, Mexico and Germany filled out the top five.
Wheat export inspections outpaced expectations after reaching 17.8 million bushels last week. That was also better than the entire set of trade guesses, which ranged between 7.3 million and 14.7 million bushels. Cumulative totals for the 2024/25 marketing year are still running moderately above last year’s pace, with 619.3 million bushels.
The Philippines topped all destinations for U.S. wheat export inspections last week, with 3.1 million bushels. Mexico, Nigeria, Colombia and South Korea rounded out the top five.
Source: Farm Progress