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26/27 wheat export inspections continue to trail 25/26

U.S. wheat trade numbers continue to reflect slow global demand. The USDA says wheat export inspections during the week ending August 20^th were sharply below year ago levels and less than what’s needed to meet projections for the current marketing year. U.S. wheat exports have been hampered by relatively high prices, and an expected improvement in demand due to a near total lack of movement out of the Black Sea has not materialized. Corn, sorghum, and soybean inspections were above the levels needed to hit USDA projections. The USDA’s next round of supply and demand estimates is scheduled for September 11^th.

The 2025/26 marketing year for beans, corn, and sorghum began September 1^st, while 2026/27 kicked off June 1^st for wheat.

Wheat came out at 425,668 tons, down 88,695 from the week ending August 13^th and 621,424 from the week ending August 21^st, 2025. The main destinations were the Philippines and South Korea. Nearly a quarter into the 2026/27 marketing year, wheat inspections are 4,336,899 tons, compared to 5,866,384 in 2025/26.

Corn was reported at 1,296,271 tons, a decline of 648,599 from the previous week and 42,261 from this time last year. The leading destinations were Mexico and Japan. Approaching the end of 2025/26, corn inspections are 82,281,525 tons, compared to 65,559,108 in 2024/25.

Soybeans were pegged at 420,895 tons, an increase of 126,566 from the week before and 27,241 from a year ago. The primary destinations were Mexico and Egypt. So far, this marketing year, soybean inspections are 40,482,275 tons, compared to 49,318,778 last year.

Sorghum inspections totaled 979 tons, up 26 on the week with no year-to-year comparison. The listed destinations were China and Japan. 2025/26 sorghum inspections are 4,867,324 tons, compared to 2,159,922 in 2024/25.