Corn, Soybean and Wheat Inspections As Expected

Posted on 11/20/2017 10:31 AM

USDA Weekly Grain Export Inspections
Week Ended Nov. 16, 2017

Corn

Actual (MT)

632,793

Expectations (MT)

500,000-700,000

Comments:

Inspections climbed 234,444 MT from the previous week and were in line with expectations. Inspections are running 43.9% behind year-ago versus 45.4% behind the week prior. USDA's 2017-18 export forecast of 1.925 billion bu. is down 16.0% from the previous marketing year.

Wheat

Actual (MT)

259,264

Expectations (MT)

250,000-450,000

Comments:

Inspections were down 49,150 MT from the previous week, and the tally was near the low end of expectations. Inspections are running 6.8% behind year-ago versus 5.7% behind year-ago last week. USDA's export forecast for 2017-18 is at 1.0 billion bu., down 5.2% from the previous marketing year.

Soybeans

Actual (MT)

2,131,354

Expectations (MMT)

1,800,000-2,200,000

Comments:

Export inspections fell 53,830 MT from last week, but shipments were near the upper end of expectations. Inspections for 2017-18 are running 12.5% behind year-ago versus 12.0% ahead of year-ago last week. USDA's 2017-18 export forecast is at 2.250 billion bu., up 3.5% from year-ago.

 

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