The latest set of grain export inspection data from USDA, out Monday morning and covering the week through May 2, didn’t hold a lot of surprising results for traders to digest. Corn volume eased slightly lower week-over-week but stayed near the higher end of analyst estimates. Soybeans made moderate week-over-week improvements, while wheat faded moderately below the prior weeks’ results.

Corn export inspections reached 50.6 million bushels last week. That was on the high end of analyst estimates, which ranged between 34.4 million and 57.1 million bushels. Cumulative totals for the 2023/24 marketing year are still noticeably above last year’s pace so far after reaching 1.298 billion bushels.

Mexico was the No. 1 destination for U.S. corn export inspections last week, with 15.9 million bushels. Japan, Saudi Arabia, Colombia and China rounded out the top five.

Sorghum export inspections nearly doubled the prior week’s volume after reaching 5.4 million bushels. That grain is largely bound for China, with Mexico accounting for the modest remainder. Cumulative totals for the 2023/24 marketing year are more than tripling last year’s pace so far after reaching 180.3 million bushels.

Soybean export inspections improved moderately above the prior week’s tally after reaching 12.8 million bushels. That was toward the higher end of analyst estimates, which ranged between 7.3 million and 15.6 million bushels. Cumulative totals for the 2023/24 marketing year are still trending moderately below last year’s pace, with 1.437 billion bushels.

Egypt was the No. 1 destination for U.S. soybean export inspections last week, with 3.1 million bushels. China, Mexico, Bangladesh and Indonesia filled out the top five.

Wheat export inspections only reached 11.8 million bushels last week after tracking moderately below the prior week’s volume. That was also on the very low end of analyst estimates, which ranged between 11.0 million and 21.1 million bushels. Cumulative totals for the 2023/24 marketing year are slightly below last year’s pace, with 634.4 million bushels.

The Philippines topped all destinations for U.S. wheat export inspections last week, with 4.7 million bushels. Mexico, China, Brazil and Colombia rounded out the top five.

Click here for more highlights from the latest USDA grain export inspection report, which covers the week through May 2.