USDA’s new batch of grain export inspection data, out Monday morning and covering the week through July 21, held mixed but somewhat disappointing data for traders to digest. Wheat turned in the strongest performance, more than doubling the prior week’s tally and staying on the upper end of analyst estimates. Corn and soybeans were relatively disappointing, in contrast, facing moderate declines and posting rangebound results.

Corn export inspections fell to 28.5 million bushels last week. That was toward the lower end of trade estimates, which came in between 23.0 million and 47.2 million bushes. Cumulative totals for the 2021/22 marketing year remain well behind last year’s pace, with 2.009 billion bushels.

Mexico was the No. 1 destination for U.S. corn export inspections last week, with 9.3 million bushels. China, Japan, Colombia and El Salvador rounded out the top five.

Sorghum export inspections fell moderately below the prior week’s tally, to 2.9 million bushels. That grain is largely bound for China, with Mexico and Haiti accounting for the modest remainder. Cumulative totals for the 2021/22 marketing year are still slightly ahead of last year’s pace, with 281.1 million bushels.

Soybean export inspections declined moderately lower week-over-week to 14.3 million bushels. That was near the middle of analyst estimates, which ranged between 3.7 million and 21.1 million bushels. Cumulative totals for the 2021/22 marketing year are running moderately below last year’s pace, with 1.947 billion bushels.

Mexico was the No. 1 destination for U.S. soybean export inspections, with 5.2 million bushels. Germany, Bangladesh, Egypt and Taiwan filled out the top five.

Wheat export inspections made significant inroads, improving to 17.5 million bushels last week. That was also on the higher end of trade estimates, which ranged between 7.3 million and 20.2 million bushels. Cumulative totals for the 2022/23 marketing year are off to a moderately slow start versus year-ago results, meantime, with 95.1 million bushels.

Mexico was the No. 1 destination for U.S. wheat export inspections last week, with 3.5 million bushels. The Philippines, Morocco, El Salvador and Colombia rounded out the top five.

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