Catch-Up Corn, Wheat Export Commitments, Inspections Continue Higher Than Last Year; Soybeans Lower

OMAHA (DTN) — USDA released its weekly Export Inspections report Monday for the week ended Nov. 27. Total corn inspections were 56.0 million bushels (mb), soybean inspections totaled 33.8 mb, and wheat inspections were 14.1 mb. All inspections were for the 2025-26 marketing year.

Corn inspections totaled 56 mb for the week ended Nov. 27, 2025. Total inspections for 2025-26 are now at 747 mb, up 71% from the previous year. USDA is estimating corn exports to total 3.075 billion bushels (bb) in 2025-26, up 9% from the previous year. Corn inspections in 2025-26 are running well ahead of USDA’s estimated pace at a time when USDA’s estimate of corn ending stocks is 48% larger than the previous five-year average. 

Soybean inspections totaled 33.8 mb for the week ended Nov. 27. Total inspections for 2025-26 are now at 436 mb, down 46% from the previous year. USDA is estimating soybean exports to total 1.635 bb in 2025-26, down 13% from the previous year. Soybean inspections are running well behind USDA’s estimated pace at a time when USDA’s estimate of soybean ending stocks is less than 1% lower than the previous five-year average.  

Wheat inspections totaled 14.1 mb for the week ended Nov. 27. Total inspections for 2025-26 are now at 486 mb, up 20% from the previous year. USDA is estimating wheat exports to total 900 mb in 2025-26, up 9% from the previous year. Wheat inspections are running ahead of USDA’s estimated pace at a time when USDA’s estimate of wheat ending stocks is 24% larger than the previous five-year average.

USDA’s catch-up Weekly Export Sales and Shipments report for the week ended Oct. 23 listed net corn sales of 77.4 million bushels (mb), for mixed 2025-26 and 2026-27 delivery. Soybean net sales totaled 53.3 mb. Wheat net sales were 18.4 mb. All soybean and wheat sales were for 2025-26 delivery.

For the week ended Oct. 23, USDA reported an increase of 71.1 mb (1,805,300 mt) of corn export sales in 2025-26 and an increase of 6.3 mb (160,100 mt) for 2026-27. The week’s export shipments of 52.5 mb were below the 57.1 mb needed each week to achieve USDA’s export estimate of 3.075 billion bushels (bb) in 2025-26. As of Oct. 23, corn export commitments totaled 1392.3 mb in 2025-26 and were up 37% from a year ago. That is ahead of USDA’s estimated pace at a time when USDA’s estimate of U.S. ending corn stocks is 48% larger than the previous 5-year average. 

For the week ended Oct. 23,USDA reported an increase of 53.3 mb (1,449,800 mt) of soybean export sales in 2025-26 and 0 mb for 2026-27. The week’s export shipments of 51.0 mb were above the 31.1 mb needed each week to achieve USDA’s export estimate of 1.635 bb in 2025-26. As of Oct. 23, soybean export commitments totaled 592.8 mb in 2025-26 and were down 38% from a year ago. That is behind USDA’s estimated pace at a time when USDA’s estimate of U.S. ending soybean stocks is less than 1% lower than the previous 5-year average.    

For the week ended Oct. 23, 2025, USDA reported an increase of 18.4 mb (499,800 mt) of wheat export sales for 2025-26 and 0 for 2026-27. Last week’s export shipments of 10.3 mb were below the 15.5 mb needed each week to achieve USDA’s export estimate of 900 mb in 2025-26. As of Oct. 23, wheat export commitments totaled 599 mb in 2025-26 and were up 22% from a year ago. That is ahead of USDA’s estimated pace at a time when USDA’s estimate of U.S. ending wheat stocks is 24% larger than the previous 5-year average.