Holiday season affects grain export numbers

Jan 03, 2024

The U.S. Department of Agriculture (USDA) has released its latest grain export inspection data, covering the week through December 28. As anticipated, due to the holiday season, there was a modest downturn in the exports of key grains such as corn, soybeans, and wheat. 

Corn exports saw a significant reduction, with just 22.4 million bushels inspected, marking a sharp drop from the previous week. Despite this week's decline, the overall pace for the year remains ahead of last year's figures. Mexico retained its position as the primary recipient of U.S. corn exports. 

In the sorghum sector, export inspections fell to 4.4 million bushels, with most shipments heading to China. The cumulative totals for sorghum remain encouragingly higher than the previous year, indicating strong ongoing demand. 

Soybean exports, totaling 35.3 million bushels, also witnessed a slight decrease compared to the prior week. China continued to be the largest importer of U.S. soybeans. Other significant importers included Italy, Germany, Spain, and Bangladesh. 

Wheat exports, at 10.1 million bushels, showed a moderate drop, aligning with trade expectations. The Philippines was the top destination for U.S. wheat, followed by China, South Korea, Spain, and Mexico, though cumulative totals are still trailing behind last year’s figures. 

This week's USDA report reflects the typical seasonal trends in grain exports, highlighting the impact of the holiday season on agricultural trade and the enduring global demand for U.S. grains. 

Source : wisconsinagconnection
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