U.S. Weekly Inspections of Wheat, Corn Fall

By Paulo Trevisani

U.S. export inspections of wheat and corn declined last week from the previous period, the Department of Agriculture said Monday.

In its latest weekly report, the USDA said wheat export inspections in the week ended May 2 totaled 321 million metric tons, down from an upwardly revised 503 million tons in the week before. Corn inspections fell slightly to 1.29 million tons from a revised 1.30 million tons.

Soybeans inspections increased to 349 million tons from a revised 276 million tons.

Corn inspections in the current marketing year are 32.6% higher than in the same period a year earlier, at 33 billion tons. Wheat inspections are 6.5% lower, at 17.3 billion and soybeans are 18% lower at 39.1 billion.

Mexico was the main destination for U.S. corn inspected last week, while most wheat was destined to the Philippines. Egypt took the largest amount of soybeans.

CBOT grains are up lead by a 3.5% increase in wheat prices. Corn and soybeans are up 1.7%.

To see related data, search "USDA Grain Inspections for Export in Metric Tons" in Dow Jones NewsPlus.

Write to Paulo Trevisani at [e-mail]

(END) Dow Jones Newswires

05-06-24 1156ET