News

U.S. wheat demand strengthens as export pace tops 2025/26 projections

Wheat continues to leave U.S. ports at a solid pace. The USDA says wheat export inspections during the week ending November 20^th were faster than both the previous week and a year ago, staying ahead of the pace needed to meet projections just ahead of the halfway point of the marketing year. The top destinations were the Philippines and Bangladesh.

It was a solid week for corn inspections as well, which are also ahead of last marketing year’s pace, while soybean inspections continue sag as recently purchased U.S. beans have yet to depart for China.

The 2025/26 marketing year got underway June 1^st for wheat and September 1^st for beans, corn, and sorghum.

The USDA’s updated supply and demand numbers are out December 9^th.

Wheat came out at 474,530 tons, up 227,997 from the week ending November 13^th and 108,597 from the week ending November 21^st, 2024. The primary destinations were the Philippines and Bangladesh. Approaching the halfway point of the 2025/26 marketing year, wheat inspections are 12,837,645 tons, compared to 10,729,221 in 2024/25.

Corn was reported at 1,632,144 tons, a decrease of 433,430 from the week before, but an increase of 623,277 from this time last year. The main destinations were Mexico and Japan. Last in the first quarter of the marketing year, corn inspections are 17,482,657 tons, compared to 10,164,134 a year ago.

Soybeans were pegged at 799,042 tons, a drop of 406,405 from the prior week and 1,320,753 from a year ago. The leading destinations were Bangladesh and Algeria. So far, this marketing year, soybean inspections are 10,937,372 tons, compared to 19,707,429 last year.

Sorghum inspections totaled 74,300 tons, a decline of 9,001 on the week and 45,703 on the year. The largest destinations were Spain and Kenya. 2025/26 sorghum inspections are 420,066 tons, compared to 891,825 in 2024/25.