The latest round of grain export inspection data from USDA, out Monday morning and covering the week through May 12, didn’t hold much surprising data for traders to digest. Corn stumbled moderately lower week-over-week but stayed near the middle of trade estimates. Soybeans and wheat saw moderate week-over-week improvements, in contrast.

Corn export inspections totaled 40.8 million bushels last week, sliding 30% below the prior week’s tally and tracking on the lower end of trade guesses, which ranged between 29.5 million and 68.9 million bushels. Cumulative totals for the 2021/22 marketing year remain well behind last year’s pace, with 1.539 billion bushels.

South Korea emerged as the No. 1 destination for U.S. corn export inspections last week, with 10.2 million bushels. Mexico wasn’t far behind, with 9.8 million bushels. China, Colombia and Japan rounded out the top five.

Sorghum export inspections took a moderate step back from a week ago, falling to 7.8 million bushels. That grain is largely bound for China, with Mexico picking up the small remainder. Cumulative totals for the 2021/22 marketing year are fractionally behind last year’s pace, with 227.4 million bushels.

Soybean export inspections improved to 28.8 million bushels last week, up from 18.5 million bushels the prior week. It was also on the very high end of trade estimates, which ranged between 9.2 million and 29.4 million bushels. Cumulative totals for the 2021/22 marketing year are still well below the prior year’s pace, with 1.782 billion bushels.

Egypt was the No. 1 destination for U.S. soybean export inspections last week, with 10.0 million bushels. Mexico, the Netherlands, China and Indonesia filled out the top five.

Wheat export inspections firmed moderately above the prior week’s tally to reach 12.8 million bushels. That was also on the higher end of trade estimates, which ranged between 3.7 million and 14.7 million bushels. Cumulative totals for the 2021/22 marketing year remain moderately behind last year’s pace, with 712.0 million bushels.

Mexico was the top destination for U.S. wheat export inspections last week, with 2.7 million bushels. Taiwan, Thailand, Ethiopia and Venezuela rounded out the top five.

Click here to see more data from the latest USDA grain export inspection report.