Export grain inspection decreases

Surveys of corn and wheat for foreign supply fell weekly, while soybean estimates rose, the US Department of Agriculture (USDA) said. The agency said corn inspections fell to 518,373 tonnes in the seven days ended September 1.

This was down from the previous week’s 689,451 metric tons, but higher than the 338,716 metric tons inspected in the same week a year ago. Wheat estimates fell to 477,657 metric tons from 631,326 metric tons in the previous week, but rose from 412,649 metric tons at the same point last year, the government said.

Meanwhile, last week’s soybean surveys were reported at 495,845 tonnes. That’s up from 439,811 metric tons the previous week and up from 93,653 metric tons estimated for the same week in 2021, the USDA said.

The new trading year for corn and soybeans began on September 1, so trading data for that year is only available for one day. Wheat inspections since the start of the grain marketing year on June 1 now stand at 5.6 million tonnes, down from 6.62 million tonnes inspected in the same period a year earlier, the agency said in its report.

Dry weather will prevail across the upper Midwest and West today, with red flag warnings in effect across western North Dakota and Montana and Wyoming, and wildfire conditions for several states including South Dakota and Nebraska. In western North Dakota, winds will gust to 35 mph, while humidity will drop to 11%, according to the National Weather Service.