Disappointing Corn, Wheat Export Inspections

Posted on 01/07/2019 10:07 AM

USDA’s Weekly Grain Export Inspections

Week Ended Jan. 3, 2018

Corn

Actual (MT)

501,541

Expectations (MT)

650,000-1,000,000

Comments

Inspections were down 451,340 MT from the week prior, and were just above the top end of the pre-report range of estimates.  Inspections are running 61.3% ahead of year-ago, versus 69.1% 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)

260,134

Expectations (MT)

350,000-600,000

Comments

Export inspections were down 120,018 MT from last week and the tally was below the bottom end of expectations. Inspections are running 12.5% behind the 2017-18 marketing year, versus 12.9% 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)

673,172

Expectations (MT)

500,000-850,000

Comments

Export inspections were down 82,981 MT from last week and at the top end of the range of pre-report expectations. Inspections for 2018-19 are running 41.6% behind year-ago, compared with 41.8% behind last week. USDA projects exports in 2018-19 at 1.900 billion bu., down 10.8% from year-ago.

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