Soybean Inspections Surge

Posted on 10/15/2018 10:40 AM

USDA’s Weekly Grain Export Inspections

Week Ended Oct. 11, 2018

Corn

Actual (MT)

996,643

Expectations (MT)

1,200,000-1,500,000

Comments

Inspections dropped 388,136 MT from the week prior, and shipments fell short of expectations.  Inspections are running 74.7% ahead of year-ago, versus 62.1% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.475 billion bu. is up 1.5% from the previous marketing year.

Wheat

Actual (MT)

450,980

Expectations (MT)

300,000-500,000

Comments

Export inspections edged up roughly 3,400 MT from last week and the tally was in line with the upper end of expectations.  Inspections are running 28.9% behind the 2017-18 marketing year, versus 28.9% behind last week. USDA projects exports in 2018-19 at 1.025 billion bu., up 13.8% from the previous marketing year.

Soybeans

Actual (MT)

1,157,787

Expectations (MT)

500,000-700,000

Comments

Export inspections surged 563,424 MT from last week, nearly doubling the prior week’s tally, and inspections topped expectations by a wide margin. Inspections for 2018-19 are running 34.9% behind year-ago, compared with 35.2% behind last week. USDA projects exports in 2018-19 at 2.060 billion bu., down 3.2% from year-ago.

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