Soybean export inspections fall and corn and wheat shipments rise

  • U.S. soybean inspections dropped 24% from the previous week
  • Soybean export inspections totaled 1.67 million metric tons
  • Total soybean shipments are down 5.6% from last year
  • Corn and wheat shipments increased from the previous week
  • Philippines, Mexico, and China are the leading destinations for wheat, corn, and soybeans respectively
  • Grain futures trading on the CBOT: corn up 1.7%, soybeans up 2.2%, wheat down 0.1%

Inspections of U.S. soybean shipments through the week ended Nov. 9 fell 24% from the previous week, totaling 1.67 million metric tons. This decline contributes to a 5.6% decrease in total soybean shipments compared to last year. On the other hand, corn and wheat shipments increased, with corn shipments totaling 608,810 tons and wheat shipments totaling 207,205 tons. The leading destinations for these grains are the Philippines for wheat, Mexico for corn, and China for soybeans. In grain futures trading on the CBOT, corn is up 1.7%, soybeans are up 2.2%, and wheat is down 0.1%.

Factuality Level: 8
Factuality Justification: The article provides specific data from the Department of Agriculture regarding soybean export inspections and shipments. The information is supported by USDA data and includes details about the leading destinations for different grains. There is no apparent bias or opinion presented in the article. However, the article could have provided more context or analysis regarding the reasons behind the decline in soybean shipments and the implications for the market.
Noise Level: 7
Noise Justification: The article provides information on the inspections of U.S. soybean shipments and the total soybean, corn, and wheat shipments. It also mentions the leading destinations for each grain. However, it lacks analysis, evidence, or actionable insights. The article stays on topic and does not dive into unrelated territories.
Financial Relevance: Yes
Financial Markets Impacted: Grain futures trading on the CBOT
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article provides information on the inspections and shipments of soybeans, corn, and wheat in the US. It mentions the destinations for these exports and the current trading prices of grain futures on the CBOT. There is no mention of any extreme events or significant impacts on financial markets or companies.
Key People: Kirk Maltais (Author)

Reported publicly: www.marketwatch.com