US weekly corn inspections up 21.6% to 1.37 million tonnes
Weekly export inspections of US corn increased by 21.6% to 1.37 million tonnes in the week to May 30 from the 1.1 million tonnes recorded in the previous week, data from the USDA showed on Monday, June 3.
The sales landed above analyst estimates, which were in the range of 975,000 tonnes to 1.2 million tonnes ahead of the data release.
The main destinations were Mexico (286,003 tonnes) and Japan (243,445 tonnes).
Inspections at Gulf ports totaled 659,901 tonnes, compared with 379,623 tonnes at Pacific ports, and 300,079 tonnes in the Interior.
Yellow corn accounted for the bulk of the total, with 1.3 million tonnes passing inspections, getting closer to the 1.4 million tonnes needed weekly to meet the USDA forecast of 54.6 million tonnes.
Total weekly inspections for the 2023/24 marketing year to date — which started on September 1, 2023 — stood at 37.7 million tonnes, up by 26% year on year from 30 million tonnes.