By Kirk Maltais

Export inspections for corn are again down this week, keeping the pace for the marketing year well behind last year.

In its latest grain export inspections report, the U.S. Department of Agriculture said corn export inspections totaled 480,205 metric tons for the week ended Feb. 2, down from 542,989 tons reported last week and 1.07 million tons at this time last year.

This week's low figure puts the pace of corn export inspections in the 2022/23 marketing year even more behind last year's pace, with inspections this year totaling 12.53 million tons, down nearly 33% from last year.

Soybean inspections are also lower than last week, totaling 1.83 million tons, down from 1.93 million tons last week, while wheat inspections totaled 536,355 tons for the week, up from 445,727 tons last week.

Mexico was the leading destination for U.S. corn, while the Philippines was the leading destination for wheat and China was the leading destination for soybeans.

Grain futures trading on the CBOT are down today, with most-active corn futures down 0.4%, soybeans down 0.5%, and wheat down 1%.

To see related data, search "USDA Grain Inspections for Export in Metric Tons" in Dow Jones NewsPlus.

Write to Kirk Maltais at kirk.maltais@wsj.com

(END) Dow Jones Newswires

February 06, 2023 11:33 ET (16:33 GMT)

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