USDA’s latest round of grain export inspection data, out Monday morning and covering the week through August 10, held another mixed round of numbers for traders to digest. Corn and soybean volumes made modest week-over-week improvements and stayed on the higher end of analyst estimates. Wheat underperformed, meantime, spilling below the entire set of trade guesses.

Corn export inspections moved slightly higher from the prior week’s tally to 15.7 million bushels. That was also toward the higher end of analyst estimates, which ranged between 10.8 million and 19.7 million bushels. Cumulative totals for the 2022/23 marketing year remain significantly below last year’s pace, with 1.402 billion bushels.

Mexico was the No. 1 destination for U.S. corn export inspections last week, with 9.7 million bushels. China, Japan, Venezuela and Taiwan rounded out the top five.

Sorghum export inspections improved considerably week-over-week after reaching 4.6 million bushels. That grain is primarily bound for China, with Mexico accounting for the modest remainder. Cumulative totals for the 2022/23 marketing year are only trending at around one-third of last year’s pace so far after reaching 96.7 million bushels.

Soybean export inspections trended slightly higher week-over-week after reaching 10.9 million bushels. That was on the higher end of trade estimates, which ranged between 5.5 million and 12.9 million bushels. Cumulative totals for the 2022/23 marketing year are now moderately lower than last year’s pace after reaching 1.878 billion bushels.

Germany was the No. 1 destination for U.S. soybean export inspections last week, with 7.4 million bushels. Mexico, Egypt, Taiwan and Indonesia filled out the top five.

Wheat export inspections were lackluster last week after only reaching 6.7 million bushels. That was also lower than the entire set of trade guesses, which ranged between 10.1 million and 20.2 million bushels. Cumulative totals for the 2023/24 marketing year have started a bit below the prior year’s pace so far, with 118.2 million bushels.

Mexico topped all destinations for U.S. wheat export inspections last week, with 1.5 million bushels. Japan, South Korea, Chile and Vietnam rounded out the top five.

Click here to see more highlights from the latest USDA grain export inspection report, which covers the week through August 14.