US corn inspections up 50%, soy stable, wheat down 15%

Exports of three main grains and oilseeds showed a mixed bag on Monday with corn inspected for export surging more than 50% on the week to 632,793 mt, up from 398,349 mt a week earlier although year to date figures remain 44% down at 6.5 million mt versus 11.7 million mt.

Soybeans were broadly in line with exports the week ending November 9 at 2.13 million mt versus 2.19 million mt, but the year to date volume remains 20% down on exports this time last year, largely down to the fact that Brazil and its bumper crop has been eating away at US market share.

Finally, total wheat inspected for export for the week ending November 16 was 259,000 mt, down from 308,000 mt a week earlier and down from the 434,001 mt that was inspected at this point last year.

That being said, wheat exports are stable year on year compared with soybean and corn with wheat at 11.995 million mt so far this marketing year versus 12.869 million mt at this point last year.