Soybean inspections saw a marginal decline to 2.44 million tons, yet the commodity continues to outperform 2023 levels with a year-to-date total of 12.18 million tons. Wheat, conversely, faced a sharp contraction, falling from 195,054 tons the previous week to a fraction of its year-earlier volume of 351,392 tons.
In section Market Quotes
U.S. Grain Export Shifts: Corn Surges as Wheat Exports Plummet
A 39% weekly jump in U.S. corn inspections failed to offset a broader slump in agricultural shipping, as wheat exports cratered to 75,413 metric tons. While corn reached 884,766 tons for the period ending October 29, the figures remain significantly behind the pace set during the same timeframe last year.
Global demand remains concentrated in key markets. Mexico claimed the bulk of U.S. corn exports at 520,923 tons, while China absorbed 1.52 million tons of soybeans. Mexico and Taiwan served as the primary destinations for the dwindling wheat shipments, according to the latest Department of Agriculture data.
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