USDA’s latest grain export inspection report, out Tuesday morning and covering the week through August 29, held mixed but mostly bullish data for traders to digest. Corn, soybeans and wheat all found weekly improvements, and all three commodities landed on the higher end of analyst estimates. Sorghum inspections also moved modestly higher this past week.

Corn export inspections tracked slightly higher than the prior week’s tally after reaching 38.0 million bushels. That was also slightly toward the higher end of analyst estimates, which ranged between 27.6 million and 45.3 million bushels. Cumulative totals for the 2023/24 marketing year remain substantially above last year’s pace after reaching 2.048 billion bushels.

Mexico was the No. 1 destination for U.S. corn export inspections last week, with 18.3 million bushels. Japan, Colombia, Spain and Saudi Arabia rounded out the top five.

Sorghum export inspections slightly exceeded the prior week’s total after reaching 4.8 million bushels. That grain is largely bound for China, with Mexico picking up the modest remainder. Cumulative totals for the 2023/24 marketing year are still more than doubling last year’s pace so far after reaching 237.4 million bushels.

Soybean export inspections moved moderately above the prior week’s pace after reaching 18.3 million bushels. That was also on the very high end of analyst estimates, which ranged between 11.0 million and 18.4 million bushels. Cumulative totals for the 2023/24 marketing year are still tracking noticeably below last year’s pace so far after reaching 1.643 billion bushels.

China topped all destinations for U.S. soybean export inspections last week, with 7.1 million bushels. Mexico, Indonesia, Egypt and Taiwan filled out the top five.

Wheat export inspections continue to come in at a relatively strong pace after reaching 21.2 million bushels last week. That was also on the very high end of trade guesses, which ranged between 14.7 million and 22.0 million bushels. Cumulative totals for the 2024/25 marketing year are moderately above last year’s pace so far after reaching 210.8 million bushels.

Mexico was the No. 1 destination for U.S. wheat export inspections last week, with 5.0 million bushels. The Philippines, Malaysia, Guatemala and Colombia rounded out the top five.

Click here for more highlights from the latest USDA grain export inspection report, which covers the week through August 29.