The latest set of grain export inspection data from USDA, out Monday morning and covering the week through April 25, held mostly lackluster and rangebound numbers for traders to digest. Corn led the way again, staying on the higher end of analyst estimates but sliding moderately below the prior week’s tally. Soybean inspections also spilled moderately lower week-over-week. Wheat made moderate weekly improvements, meantime, while staying toward the higher end of trade estimates.

Corn export inspections shifted moderately below the prior week’s total to 48.3 million bushels. That was still toward the higher end of trade guesses, which ranged between 38.8 million and 55.1 million bushels. Cumulative totals for the 2023/24 marketing year are still noticeably above last year’s pace so far after reaching 1.245 billion bushels.

Japan was the No. 1 destination for U.S. corn export inspections last week, with 15.4 million bushels. Mexico, Colombia, South Korea and Honduras rounded out the top five.

Sorghum export inspections were less than half of the prior week’s volume after reaching 2.8 million bushels. China accounted for nearly all of that total, with Japan picking up the modest remainder. Cumulative totals for the 2023/24 marketing year have roughly tripled last year’s pace so far after reaching 174.9 million bushels.

Soybean export inspections shifted moderately below last week’s total after only reaching 9.2 million bushels. That was also on the very low end of analyst estimates, which ranged between 6.8 million and 18.4 million bushels. Cumulative totals for the 2023/24 marketing year remain moderately below last year’s pace after reaching 1.424 billion bushels.

Japan was the No. 1 destination for U.S. soybean export inspections last week, with 3.1 million bushels. Indonesia, Mexico, Colombia and China filled out the top five.

Wheat export inspections moved modestly higher week-over-week after reaching 17.7 million bushels. That was also toward the higher end of analyst estimates, which ranged between 11.0 million and 20.2 million bushels. Cumulative totals for the 2023/24 marketing year are still trending slightly behind last year’s pace so far after reaching 621.8 million bushels.

China was the No. 1 destination for U.S. wheat export inspections last week, with 2.6 million bushels. Vietnam, Taiwan, Chile and Mexico rounded out the top five.

Click here for more highlights from the latest USDA grain export inspection report, which covers the week through April 25.