Corn and Soybean Shipments Stronger Than Anticipated

January 9, 2017 10:15 AM

 

USDA Weekly Grain Export Inspections
Week Ended Jan. 5, 2017
Corn
Actual (MT) 876,562
Expectations (MT) 600,000-800,000
Comments: Inspections were up 238,632 MT from the previous week and above expectations. Inspections for 2016-17 are up 78.4% from year-ago, compared to 79.5% ahead the previous week. USDA's 2016-17 export forecast of 2.225 billion bu. is up 17.2% above the previous marketing year.
Wheat
Actual (MT) 260,555
Expectations (MT) 300,000-500,000
Comments:

Inspections are down 146,477 MT from the previous week and the tally fell short of expectations. Inspections for 2016-17 are running 25.9% ahead of year-ago compared to 27.8% ahead last week. USDA's export forecast for 2016-17 is at 975 million bu., up 25.8% from the previous marketing year.

Soybeans
Actual (MT) 1,457,230
Expectations (MMT) 1,100,000-1,400,000
Comments: Export inspections slipped 130,116 MT from the previous week, but the tally topped expectations. Inspections for 2016-17 are running 18.0% ahead of year-ago, compared to 18.0% ahead the previous week. USDA's 2016-17 export forecast is at 2.050 billion bu., up 5.9% from year-ago.