The latest report from the Agriculture Department indicates a decrease in U.S. grain export inspections compared to the previous week. The weekly report released by the USDA on Monday reveals lower export inspections for corn, soybeans, and wheat for the week ended Feb. 29.
Inspection Numbers
- Corn inspections: 1.08 million metric tons
- Soybean inspections: 1.02 million metric tons
- Wheat inspections: 353,137 metric tons
Year-Over-Year Discrepancies
While corn inspections saw a decline from the previous week, the comparison to last year's export pace shows a significant increase. Corn inspections for the current marketing year are 35% higher than the previous year, totaling 20.63 million tons. On the other hand, soybean and wheat inspections are trailing behind last year's pace, with soybean inspections 20% lower and wheat inspections 17% lower.
Market Movement
In trading on Monday, CBOT grains experienced an upward trend. Corn prices rose by 1.5%, soybeans were 0.7% higher, and wheat saw a 1% increase.
For more detailed data, refer to "USDA Grain Inspections for Export in Metric Tons" on Dow Jones NewsPlus.
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