Corn Inspections Top Expectations, Wheat Shipments Fall Short

Posted on 03/25/2019 10:11 AM

USDA’s Weekly Grain Export Inspections

Week Ended March 21, 2019

Corn

Actual (MT)

995,997

Expectations (MT)

700,000-950,000

Comments

Inspections were up 192,784 MT from the week prior and were a bit higher than expected. Inspections are running 22.8% ahead of year-ago, versus 25.7% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.375 billion bu. is down 2.6% from the previous marketing year.

Wheat

Actual (MT)

340,398

Expectations (MT)

400,000-600,000

Comments

Export inspections slipped 44,721 MT from last week and the tally once again fell short of expectations. Inspections are running 5.9% behind the 2017-18 marketing year, versus 6.2% behind last week. USDA projects exports in 2018-19 at 965 million bu., up 7.1% from the previous marketing year.

Soybeans

Actual (MT)

857,970

Expectations (MT)

600,000-950,000

Comments

Export inspections edged 8,270 MT higher from last week and inspections were in line with what analysts anticipated. Inspections for 2018-19 are running 30.3% behind year-ago, compared with 31.1% behind last week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

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