USDA’s latest set of grain export inspection data, out Monday morning and covering the week through June 6, held another round of mixed data for traders to digest. Corn volume continues to lead the way despite a modest week-over-week drop, still staying toward the higher end of analyst estimates. Soybean and wheat volumes were more lackluster after fading moderately lower week-over-week and staying toward the lower end of trade guesses.

Corn export shipments slid slightly lower week-over-week to 52.7 million bushels. That was still toward the higher end of analyst estimates, which ranged between 39.4 million and 56.1 million bushels. Cumulative totals for the 2023/24 marketing year are still trending moderately above last year’s pace after reaching 1.540 billion bushels.

Mexico was the No. 1 destination for U.S. corn export inspections last week, with 17.2 million bushels. Japan, Colombia, Taiwan and China rounded out the top five.

Sorghum export inspections jumped well above the prior week’s pace after reaching 7.1 million bushels. China, Eritrea and Japan were the three destinations. Cumulative totals for the 2023/24 marketing year are almost tripling last year’s pace so far after reaching 202.4 million bushels.

Soybean export inspections faded moderately below the prior week’s volume after reaching 8.5 million bushels. That was on the lower end of analyst estimates, which ranged between 7.3 million and 14.7 million bushels. Cumulative totals for the 2023/24 marketing year remain moderately below last year’s pace after reaching 1.490 billion bushels.

Mexico was the No. 1 destination for U.S. soybean export inspections last week, with 2.4 million bushels. Germany, Indonesia, Japan and Colombia filled out the top five.

Wheat export inspections spilled moderately below the prior week’s volume, with 12.9 million bushels. That was on the lower end of analyst estimates, which ranged between 11.0 million and 17.5 million bushels. Cumulative totals for the fresh 2024/25 marketing year, which began June 1, are slightly below last year’s pace so far after reaching 10.9 million bushels.

Mexico was the No. 1 destination for U.S. wheat export inspections last week, with 3.5 million bushels. The Philippines, Indonesia, Nigeria and Taiwan rounded out the top five.

Click here for more highlights from the latest USDA grain export inspection report, which covers the week through June 6.