For the week ending Aug. 16, export inspections for corn, soybeans and wheat all landed on the low end or even below the average trade guess, as totals slipped moderately below the prior week’s results. 

Corn export inspections last week reached 43.2 million bushels, down moderately from the prior week’s total of 49.7 million bushels and dipping below an average trade guess that ranged between 47 million and 55 million bushels. The weekly rate needed to meet USDA forecasts moved higher, to 57.3 million bushels, although marketing year-to-date totals for 2017/18 have nearly pulled even with the prior marketing year, down just a quarter-percent from 2016/17 as the marketing year draws to a close with 2.171 billion bushels. 

Japan was the No. 1 destination for U.S. corn export inspections last week, with 16.3 million bushels. Other top destinations included Mexico (10.5 million), Colombia (4.4 million), Taiwan (3.4 million), Egypt (2.3 million) and Israel (2.1 million). 

Soybean export inspections reached 23.5 million bushels last week – slightly beating the prior week’s total of 21.4 million bushels but landing on the low end of the average trade guess, which ranged between 22 million and 29 million bushels. The weekly rate needed to meet USDA forecasts remains a manageable 26.0 million bushels as the 2017/18 marketing year draws to a close, although totals continue to hover below 2016/17’s pace by 3.2% after reaching 2.006 billion bushels. 

Indonesia led the pack with U.S. soybean export inspections last week, accounting for 5.3 million bushels. Other top destinations included Israel (2.7 million), Jamaica (2.6 million) and Panama (2.5 million). China’s export inspection activity dried up last week, although the country did take a sorghum load. 

Wheat export inspections rebounded from the prior week’s total of 17.9 million bushels to land at 12.7 million bushels for the week ending August 16. That amount also skimmed the lower end of the trade guess, which ranged between 12 million and 18 million bushels. Total export inspections remain off to a slow start for the young 2018/19 marketing year, down almost 38% from a year ago with 155 million bushels.

Japan led the way for U.S. wheat export inspections last week with 4.4 million bushels. Other top destinations included Yemen (2.0 million), Chile (1.9 million), Nigeria (1.4 million), Mexico (1.0 million) and Colombia (1.0 million).