Export Inspections for U.S. Wheat Increased Last Week

Export inspections of U.S. wheat increased in the week ended Jan. 18, the Agriculture Department said.

Wheat inspections totaled 314,521 metric tons last week, up from an upward revised 242,409 the week before, the USDA said in its latest weekly grain export inspections report.

In the current market year, wheat export inspections totaled 10.7 million tons as of Jan. 18, down from 12.78 million tons a year earlier.

Soybeans weekly inspections declined to 1.16 million tons from an upward revised 1.28 million tons a week earlier. In the marketing year, soybeans inspections are lower than a year earlier.

Weekly corn inspections fell to 713,290 tons from an upward revised 946,417 tons, while the marketing year total is higher than a year ago.

China was the main destination of U.S. wheat last week, while Mexico took the largest amount of corn exports, the USDA said.

On the CBOT, the wheat contract for March delivery rises 0.8% after opening in the down side, while soybeans rise 0.5% and corn is up 0.1%.

Tags: China, corn, export, soybeans, wheat, U.S., inspections