The U.S. Department of Agriculture's Agricultural Marketing Service has released its Grain Transportation Report for February 6, 2025, summarizing the fourth-quarter grain inspections for export from major U.S. ports reached a three-year high in 2024, totaling 42.8 million metric tons (mmt), according to the USDA's Federal Grain Inspection Service (FGIS). This marks a significant 25% increase from the same period in 2023 and an 8% rise above the prior 5-year average.
The uptick in inspections was observed across all three major grain commodities:
- Corn inspections rose due to increased demand from Japan and Korea.
- Soybean inspections increased, driven by higher volumes destined for China, Egypt, and Italy.
- Wheat inspections grew, with Indonesia and Thailand as key destinations.
These gains offset notable declines in corn and wheat inspections to China. Corn inspections to China plummeted 98% year-over-year, attributed to China's strong domestic crop reducing import demand. Wheat inspections to China ceased entirely, partly due to China exceeding its tariff-rate quota for the calendar year.
Regionally, the Pacific Northwest (PNW), U.S. Gulf, and Interior port regions all saw increases both year-over-year and compared to the 5-year average. The Atlantic-Great Lakes port region experienced a year-over-year increase but remained below the 5-year average.
Key regional highlights include:
- U.S. Gulf: Grain inspections reached 23.2 mmt, up 40% year-over-year.
- PNW: Inspections totaled 11.7 mmt, a 16% increase from the previous year.
- Interior: Inspections rose to 6.4 mmt, up 5% year-over-year.
- Atlantic-Great Lakes: Inspections increased 12% year-over-year to 1.6 mmt.
Looking ahead, USDA's January World Agricultural Supply and Demand Estimates (WASDE) report projects increases in exports for the 2024/25 marketing year compared to 2023/24:
- Wheat exports are estimated to rise by 20%
- Soybean exports are projected to increase by 8%
- Corn exports are expected to grow by 7%
These figures suggest a positive outlook for U.S. grain exports, reflecting strong global demand and improved logistics following the resolution of drought-related issues and the full restoration of Panama Canal transits.
