Weekly Inspections of U.S. Grains See Slowing Demand for Corn and Soybeans

Weekly grains inspected for export fell approximately 600,000 metric tons to 2.9 million metric tons this week. Soybean demand declined the most, falling 25 percent from the week prior.

For the week ending January 20, 2022, USDA data showed corn inspected for export at 1.12 million metric tons. Corn inspections were 10 percent below the 1.2 million tons reported last week and 21 percent below the 1.4 million tons reported at this time last year. China, Mexico, and Japan were the top export destinations for corn, accounting for 779,717 metric tons or 70% of all corn inspected. 

Soybean inspections of 1.3 million metric tons were 25 percent below the 1.72 million tons reported last week, and 38 percent under the 2.1 million metric tons reported at this time last year.  China, Italy, and Mexico were the top…