USDA’s latest set of grain export inspection data, out Monday morning and covering the week through December 5, held mixed but mostly bullish data for traders to digest. Soybeans led the way again despite shifting moderately lower week-over-week. Corn volume moved slightly higher, staying on the higher end of analyst estimates. Wheat totals slid moderately lower, meantime, fading below the entire set of trade guesses.

Corn export inspections moved modestly higher this past week, reaching 41.3 million bushels. That was also on the high end of analyst estimates, which ranged between 27.6 million and 43.3 million bushels. Cumulative totals for the 2024/25 marketing year remain moderately ahead of last year’s pace so far after reaching 477.7 million bushels.

Mexico was the No. 1 destination for U.S. corn export inspections, with 9.7 million bushels. Japan, South Korea, Spain and El Salvador rounded out the top five.

Sorghum export inspections came in less than half of the prior week’s tally after reaching 2.9 million bushels. The vast majority of that grain is bound for China, with Mexico and Japan accounting for the modest remainder. Cumulative totals for the 2024/25 marketing year are still tracking moderately below last year’s pace after reaching 45.6 million bushels.

Soybean export inspections slid moderately below the prior week’s volume with 59.6 million bushels. That was on the lower end of analyst estimates, which ranged between 47.8 million and 80.8 million bushels. Cumulative totals for the 2024/25 marketing year are still moderately ahead of last year’s pace so far after reaching 861.2 million bushels.

China was by far the No. 1 destination for U.S. soybean export inspections last week, with 31.1 million bushels. Italy, Turkey, Mexico and Bangladesh filled out the top five.

Wheat export inspections were lackluster last week after only reaching 8.3 million bushels. That was below the entire set of trade guesses, which ranged between 9.2 million and 14.7 million bushels. Cumulative totals for the 2024/25 marketing year are still moderately above last year’s pace, reaching 412.2 million bushels.

Indonesia topped all destinations for U.S. wheat export inspections last week, with 2.4 million bushels. Mexico, Yemen, the Dominican Republic 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 December 5.