USDA export inspections see corn, wheat rise on week, soy falls

US export inspection data for the week ending January 25 has shown increases in the volume of corn and wheat, but a fall in exports of soybeans versus exports for the week ending January 18, the USDA said Monday.

Soybeans saw 1.1 million mt inspected for export, down on the 1.4 million mt seen in the previous week and some 500,000 mt below export inspections for the same week of 2017.

Wheat inspections are up both week-on-week and year-on-year at 579,875 mt – 27% higher than the previous week, and nearly 43% higher than the same period of 2017.

For corn, export inspections were 993,506 mt, up on the 722,681 mt inspected in the week ending January 18, but down versus the same point of 2017 when just over 1 million mt was inspected.

In all cases, export inspections for the current marketing year lag well behind the same point of the previous marketing year as fierce international competition continues to carve into US export markets.

Corn stands at 13.7 million mt, 34% behind the 2016/17 marketing year, with soybean 14% behind at 33.3 million mt.

Wheat is a more modest 3.6% behind last year’s exports, 16.2 million mt versus 16.8 million mt.