Export Inspections of U.S. Corn Increase

According to the latest data from the Agriculture Department, export inspections of U.S. corn have seen a significant increase compared to last week.

In its weekly USDA Grain Export Inspections report, the department reveals that corn shipments reached a total of 1.16 million metric tons for the week ending on November 30th. This is more than double the 408,855 tons reported the previous week and higher than the 833,610 tons reported at this time last year.

However, soybean and wheat inspections showed a decline compared to the prior week. Soybean inspections totaled 1.11 million tons, while wheat inspections amounted to 187,955 tons, both lower than at this time last year.

Notably, Japan emerged as the largest buyer of U.S. wheat, Mexico as the leading importer of corn, and China as the biggest purchaser of soybeans.

In terms of market performance, the most-active CBOT futures contracts experienced some fluctuations. Corn saw a gain of 0.5%, while soybeans faced a slight decline of 0.3%. Wheat, on the other hand, witnessed a notable increase of 3.2%.