U.S. Soybean Export Inspections Surge to 2 Million Metric Tons

While soybeans saw a robust uptick in overseas movement, other major grains struggled to maintain momentum. Corn inspections fell to 672,475 tons, and wheat shipments dropped to 240,308 tons, both failing to match the volume seen in the prior week or the same week a year ago. China emerged as the primary buyer for soybeans, whereas Vietnam led wheat imports and Mexico remained the top destination for U.S. corn.

Despite the positive export data for soybeans, commodity markets reacted with broad selling pressure. By midday, Chicago Board of Trade grain futures were trading lower across the board, with corn down 1%, soybeans shedding 0.7%, and wheat declining 0.6%.