By Kirk Maltais
Inspections of U.S. corn exports are up from last week, although still lagged behind the pace of this time last year, the U.S. Department of Agriculture said.
In its latest grain export inspections report for the week ended May 18, the USDA said corn export inspections totaled 1.32 million metric tons, higher than 1.17 million tons inspected last week.
However, this week's total remains slower than last year, with sales for the week at this time last year being 1.75 million tons. Yearly inspections also remain well below last year's levels, totaling 27.37 million tons, down 33% from the previous year.
Soybean inspections stayed low this week, totaling 155,051 tons inspected, down from 186,787 tons last week. Wheat inspections were higher, totaling 407,682 tons compared with 263,439 tons last week.
Mexico was the biggest destination for U.S. wheat shipments, the USDA said, while China was the leading destination for U.S. corn and Japan was the biggest destination for soybeans.
Grain futures trading on the CBOT are higher in trading. Most-active corn futures are up 3.4%, soybeans are up 2.1% and wheat is up 1.1%.
To see related data, search "USDA Grain Inspections for Export in Metric Tons" in Dow Jones NewsPlus.
Write to Kirk Maltais at kirk.maltais@wsj.com
(END) Dow Jones Newswires
05-22-23 1150ET
