Wheat Export Inspections Tumble
“U.S. wheat inspections fell sharply to 237,965 metric tons for the week ending July 18, down from 620,707 tons the previous week and below last year’s 361,135 tons. Corn inspections also decreased to 970,539 tons from 1.09 million tons previously, though higher than last year’s 329,773 tons. Soybean inspections rose to 327,061 tons. Japan led in wheat imports, Mexico in corn, and Germany in soybeans. Grains trading on the Chicago Board of Trade saw gains across the board
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Export inspections of U.S. wheat have dropped off considerably from the previous week, also falling lower than they were at this time last year.
In its latest Grain Export Inspections report released Monday, the Department of Agriculture said that for the week ended July 18, wheat inspections totaled 237,965 metric tons. That’s well down from 620,707 tons reported by the USDA for the previous week, and also lower than the total of 361,135 tons at this time last
Corn inspections also fell, dropping to 970,539 tons this week from 1.09 million tons previously. However, this week’s inspections well exceeded the 329,773 tons reported at this time last year. Soybean inspections totaled 327,061 tons, versus 175,327 tons last week and 288,655 tons the previous year.
Japan was the leading destination for U.S. wheat, at 47,268 tons. Mexico was the leading destination for corn at 334,758 tons, and Germany led for soybeans at 114,478 tons.
Grains trading on the Chicago Board of Trade are higher across the board, with fund traders seen as covering shorts amid the sizable positions they hold per the latest CFTC Commitment of Traders report.
Source Link : https://www.marketwatch.com/amp/story/wheat-export-inspections-tumble-71355c1b
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