Strong Mid-month Shipments of Soybeans and Wheat

March 20, 2017 10:10 AM

 

USDA Weekly Grain Export Inspections
Week Ended March 16, 2017
Corn
Actual (MT) 1,333,064
Expectations (MT)

1,100,000-1,500,000

Comments: Inspections are down 232,557 MT from the previous week but the tally matched expectations. Inspections for 2016-17 are up 72.3% from year-ago, compared to 74.6% 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) 624,334
Expectations (MT) 350,000-550,000
Comments:

Inspections are up 80,168 MT from the previous week and above expectations. Inspections for 2016-17 are running 28.2% ahead of year-ago compared to 27.9% ahead last week. USDA's export forecast for 2016-17 is at 1.025 billion bu., up 32.3% from the previous marketing year.

Soybeans
Actual (MT) 737,255
Expectations (MMT) 400,000-600,000
Comments: Export inspections climbed 60,695 MT from the previous week, and the tally was stronger than expected. Inspections for 2016-17 are running 11.6% ahead of year-ago, compared to 11.1% ahead the previous week. USDA's 2016-17 export forecast is at 2.050 billion bu., up 5.9% from year-ago.