The U.S. Department of Agriculture’s latest grain export inspection report, released Monday and covering the week ended December 11, presented a mixed outlook for global grain demand, with strength in corn and wheat contrasting sharply with continued weakness in soybeans.
Corn export inspections declined week over week to 62.3 million bushels, yet still came in at the upper end of market expectations. Analyst estimates had ranged from 39.4 million to 63.0 million bushels, underscoring that demand for U.S. corn remains resilient despite the recent slowdown. On a cumulative basis, corn inspections for the 2025–26 marketing year have surged to 885.5 million bushels, running 69% ahead of last year’s pace. Japan led corn importers during the week with 10.7 million bushels, followed by Mexico, Spain, Colombia and Vietnam.
Sorghum exports also showed modest improvement, with inspections rising to 2.8 million bushels. All of the inspected volume was destined for China, reaffirming its dominant role in the sorghum market. However, cumulative inspections for the marketing year stand at just 21.3 million bushels, leaving shipments at less than half of last year’s level and highlighting ongoing demand uncertainty.
Soybean export inspections continued to disappoint, totaling 29.2 million bushels for the week. The figure fell well below analyst projections, which ranged between 36.7 million and 45.9 million bushels. Year-to-date soybean inspections for the 2025–26 marketing year have reached 503.1 million bushels, placing them 46% behind last year’s pace. China remained the top destination with 7.4 million bushels, while Germany, Vietnam, Mexico and the Netherlands rounded out the list of leading buyers.
Wheat exports offered a more supportive signal to the market. Inspections reached 17.9 million bushels, near the top end of analyst expectations and moderately above the previous week’s total. Cumulative wheat inspections now stand at 518.9 million bushels for the marketing year, reflecting a 22% increase compared with the same period last year. The Philippines led wheat destinations with 4.2 million bushels, followed by Mexico, Vietnam, Japan and Indonesia.
Overall, the report underscores uneven demand across major U.S. grains, with strong momentum in corn and wheat offset by persistently weak soybean export performance as the marketing year progresses.
