Big Rebound in Corn, Bean and Wheat Export Inspections

Posted on 01/14/2019 10:08 AM

USDA’s Weekly Grain Export Inspections

Week Ended Jan. 10, 2018

Corn

Actual (MT)

1,013,682

Expectations (MT)

500,000-900,000

Comments

Inspections were up 512,117 MT from the week prior, and were just above the top end of the pre-report range of estimates.  Inspections are running 61.4% ahead of year-ago, versus 61.3% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.450 billion bu. is up 0.5% from the previous marketing year.

Wheat

Actual (MT)

545,804

Expectations (MT)

250,000-400,000

Comments

Export inspections were up 281,886 MT from last week and the tally was below the bottom end of expectations. Inspections are running 11.3% behind the 2017-18 marketing year, versus 12.5% behind last week. USDA projects exports in 2018-19 at 1.000 billion bu., up 11.0% from the previous marketing year.

Soybeans

Actual (MT)

1,085,251

Expectations (MT)

625,000-950,000

Comments

Export inspections were up 403,222 MT from last week and at the top end of the range of pre-report expectations. Inspections for 2018-19 are running 40.4% behind year-ago, compared with 41.6% behind last week. USDA projects exports in 2018-19 at 1.900 billion bu., down 10.8% from year-ago.

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