By Kirk Maltais
Inspections of U.S. wheat exports have surged, rising from both the previous week as well as this time last year, according to data from the Department of Agriculture.
In its latest weekly report Monday, the USDA said that wheat export inspections totaled 533,828 metric tons for the week ended July 11. That's well up from 343,359 tons reported for the previous week, as well as 273,443 tons reported at this time last year.
Mexico was the leading destination for U.S. wheat for the week, at 124,648 tons. China and South Korea were the next biggest destinations.
Soybean inspections fell hard from the previous week, totaling 168,593 tons. That's down from 294,209 tons from the previous week, although slightly higher than the 160,844 tons at this time last year. Corn inspections exceeded the previous week, totaling 1.08 million tons - up from 1.02 million tons last week and well above 419,214 tons at this time last year.
CBOT grain futures are all lower in Monday trading - with most-active corn down 1.5%, soybeans down 1.9%, and wheat down 3%.
To see related data, search "USDA Grain Inspections for Export in Metric Tons" in Dow Jones NewsPlus.
Write to Kirk Maltais at kirk.maltais@wsj.com
(END) Dow Jones Newswires
07-15-24 1150ET
