Soybean and Corn Shipments Impress

Posted on 03/09/2017 10:19 AM
USDA Weekly Grain Export Inspections
Week Ended Jan. 26, 2017
Corn
Actual (MT) 1,061,865
Expectations (MT) 750,000-950,000
Comments: Inspections are up 75,597 MT from the previous week and above expectations. Inspections for 2016-17 are up 74.6% from year-ago, compared to 76.3% 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) 321,479
Expectations (MT) 200,000-400,000
Comments:

Inspections are up 32,506 MT from the previous week and within expectations. Inspections for 2016-17 are running 25.7% ahead of year-ago compared to 25.9% 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) 1,630,581
Expectations (MMT) 900,000-1,200,000
Comments: Export inspections climbed 335,812 MT from the previous week, and the tally easily topped expectations. Inspections for 2016-17 are running 17.6% ahead of year-ago, compared to 16.9% ahead the previous week. USDA's 2016-17 export forecast is at 2.050 billion bu., up 5.9% from year-ago.
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