USDA’s latest set of grain export inspection data, out Monday morning and covering the week through June 27, didn’t hold a lot of encouraging data for traders to digest. Corn volume led the way once more, but results were still relatively lackluster. Soybeans stayed near the middle of analyst estimates, while wheat was on the very low end of trade guesses.

Corn export inspections trended moderately below the prior week’s volume after reaching 32.3 million bushels. That was on the very low end of analyst estimates, which ranged between 22.8 million and 51.2 million bushels. Cumulative totals for the 2023/24 marketing year are still well above last year’s pace so far after reaching 1.672 billion bushels.

Japan was the No. 1 destination for U.S. corn export inspections last week, with 8.8 million bushels. Mexico, Taiwan, Spain and Honduras rounded out the top five.

Sorghum export inspections jumped noticeably above the prior week’s volume after reaching 2.2 million bushels. China accounted for the vast majority of that total, with Zimbabwe and Mexico picking up the modest remainder. Cumulative totals for the 2023/24 marketing year are still substantially above last year’s pace, with 204.7 million bushels.

Soybean export inspections faded moderately lower week-over-week to 11.1 million bushels. That was near the middle of analyst estimates, which ranged between 7.3 million and 14.7 million bushels. Cumulative sales for the 2023/24 marketing year are still tracking moderately below last year’s pace, with 1.526 billion bushels.

Egypt was the No. 1 destination for U.S. soybean export inspections, with 4.1 million bushels. Germany, Mexico, Indonesia and Vietnam filled out the top five.

Wheat export inspections slid 9.9% below the prior week’s tally to 11.4 million bushels. That was on the very low end of analyst estimates, which ranged between 11.0 million and 18.4 million bushels. Cumulative totals for the 2024/25 marketing year have started off moderately ahead of last year’s pace after reaching 50.6 million bushels.

Indonesia was the top destination for U.S. wheat export inspections last week, with 2.8 million bushels. The Philippines, Mexico, the Dominican Republic and Nigeria rounded out the top five.

Click here for more highlights from the latest USDA grain export inspection report, which covers the week through June 27.