Grain Inspections Rebound As Demand for Corn Increases
Grain for export from all major regions reached 2.1 MMT
For the week ending July 4, total inspections of grain (corn, wheat, and soybeans) for export from all major U.S. export regions reached 2.1 million metric tons (MMT).
According to the USDA Grain Transportation Report, this amount is up 18% from the previous week, down 16% from last year, and is 10% below the 3-year average. Inspections increased mainly due to a 147% jump in corn inspections, which were destined primarily to Asia and Latin America.
Soybean inspections increased slightly from week to week, while inspections of wheat dropped 12%.
Total inspections of grain increased (from the previous week) in the Pacific Northwest (PNW) and the Mississippi Gulf, by 26% and 33%, respectively.