U.S. Corn Shipments Seen Surging From Previous Week

Export inspections of U.S. corn have climbed from where they were at this time last week, according to the latest Agriculture Department data.

In its weekly USDA Grain Export Inspections report, the department says corn shipments totaled 1.16 million metric tons for the week ended Nov. 30. That’s more than double of the 408,855 tons reported last week, and higher than the 833,610 tons reported at this time last year.

Soybean and wheat inspections were lower versus the prior week, the USDA said, totaling 1.11 million tons and 187,955 tons, respectively. Both were lower than at this time last year.

Japan was the biggest buyer of U.S. wheat, Mexico was the largest importer of corn and China the biggest purchaser of soybeans.

Most-active CBOT futures contracts gained on Monday, with corn up 0.5%, soybeans down 0.3%, and wheat up 3.2%.

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