Strong Demand Continues: US Weekly Grain Inspections Update

Agriculture – US weekly grain inspections remain strong

The USDA’s weekly export inspection data for the week ending 7 September shows strong demand for US grains. Export inspections of corn stood at 623.9kt over the week, higher than the 482.8kt in the previous week and 474.4kt reported a year ago. Similarly, US wheat export inspections stood at 406.2kt, up from 318.1kt a week ago, but lower than 757.8kt from a year ago. For soybeans, US export inspections stood at 310.1kt, compared to 406.9kt a week ago and 341.7kt for the same period last year.

The latest crop progress report from the USDA shows that 52% of the US corn crop is rated in good to excellent condition, which is down from 53% seen both in the previous week and at the same stage last year. The soybean crop also deteriorated over the week with 52% of the crop rated good to excellent, down from 53% the previous week and also below 56% seen last year. Meanwhile, the spring wheat harvest continues to progress well with the harvest 87% complete, up from 74% a week ago and above the 83% harvested by the same stage last year.