By Jamie Martin
According to the Department of Agriculture’s most recent report, there has been a decrease in export inspections for U.S. corn and wheat compared to last week.
The report, dated for the week ending September 12, noted that corn inspections were at 521,118 metric tons, and wheat totaled 556,901 tons. Despite the weekly drop, wheat inspections are higher than at the same time last year.
For the 2024/25 marketing year, wheat inspections have seen a significant 34% increase, totaling 6.9 million tons, compared to 5.2 million tons from the previous year.
However, corn and soybean inspections lag behind last year's figures, with corn down by 24% at 992,629 tons and soybeans by 16% at 674,581 tons.
On a positive note, soybean shipments for the week outpaced last week's figures, registering 401,287 tons against 365,003 tons.
Additionally, grain futures on the Chicago Board of Trade (CBOT) started the week on a high note, with increases noted across corn, soybeans, and wheat futures—2%, 2.1%, and 2.2% respectively. This uptick in futures may signal a rebound in market confidence despite the fluctuating inspection numbers.
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Categories: National