U.S. corn export inspections declined last week, while soybean and wheat shipments showed improvement, according to the latest weekly export inspection report from the U.S. Department of Agriculture.
USDA reported that 1.64 million metric tons of corn were inspected for export during the week ending June 11. That was down from just over 2 million metric tons the previous week and slightly below the volume inspected during the same week a year ago.
Soybean export inspections increased to 522,687 metric tons, up from 412,122 metric tons the week before. The total was also more than double the amount inspected during the same period last year, reflecting stronger recent demand for U.S. soybeans.
Wheat export inspections also moved higher, reaching 334,292 metric tons for the week.
Despite the weekly decline in corn inspections, overall export demand for U.S. corn remains significantly stronger than a year ago. Since the beginning of the current marketing year, USDA has inspected 65.6 million metric tons of corn for overseas shipment, compared with 52.1 million metric tons during the same period last year.
Soybean and wheat exports, however, continue to lag behind year-ago totals on a cumulative basis, even with the recent weekly increases.
Export inspections are closely monitored by grain markets as an indicator of international demand and the pace of U.S. agricultural exports.