The U.S. Department of Agriculture’s latest grain export inspection report, released Monday and covering the week ended December 11, delivered a mixed set of signals for commodity markets. While corn exports remained relatively strong despite a week-over-week decline, soybean shipments underperformed expectations, and wheat volumes showed renewed momentum.
Corn export inspections slipped to 62.3 million bushels during the week, down from the previous period but still near the upper end of analyst forecasts, which ranged from 39.4 million to 63.0 million bushels. The broader trend remains positive, with cumulative inspections for the 2025–26 marketing year reaching 885.5 million bushels, marking a 69% increase compared with the same point last year. Japan emerged as the leading destination for U.S. corn, importing 10.7 million bushels, followed by Mexico, Spain, Colombia and Vietnam.
Sorghum exports showed modest improvement, with inspections rising to 2.8 million bushels last week. All of that volume was destined for China, underscoring its continued role as the primary buyer. However, cumulative sorghum inspections for the current marketing year stand at 21.3 million bushels, still running at less than half of last year’s pace.
Soybean export inspections weakened noticeably, totaling 29.2 million bushels for the week and falling well below analyst expectations, which ranged from 36.7 million to 45.9 million bushels. Year-to-date soybean inspections for the 2025–26 marketing year have reached 503.1 million bushels, a steep 46% decline from last year’s pace. China remained the top destination with 7.4 million bushels, while Germany, Vietnam, Mexico and the Netherlands also featured prominently.
Wheat exports provided a brighter spot in the report. Inspections climbed to 17.9 million bushels, landing at the high end of analyst projections. Cumulative wheat inspections for the current marketing year now stand at 518.9 million bushels, representing a 22% increase year over year. The Philippines led wheat destinations last week with 4.2 million bushels, followed by Mexico, Vietnam, Japan and Indonesia.
Overall, the USDA data highlights diverging trends across major grains, offering traders both signs of resilience and areas of concern as the marketing year continues.
