Soybean & Wheat Inspections Slow After Last Week’s Strong Showing

Posted on 03/04/2019 9:55 AM

USDA’s Weekly Grain Export Inspections

Week Ended Feb. 28, 2019

Corn

Actual (MT)

865,617

Expectations (MT)

750,000-950,000

Comments

Inspections were up nearly 104,000 MT from the week prior and were in line with expectations. Inspections are running 35.9% ahead of year-ago, versus 38.5% 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)

440,314

Expectations (MT)

600,000-800,000

Comments

Export inspections were down 327,256 MT from last week and the tally fell short of expectations. Inspections are running 7.2% behind the 2017-18 marketing year, versus 8.0% 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)

 843,925

Expectations (MT)

900,000-1,300,000

Comments

Export inspections dropped 463,924 MT from last week and inspections were lighter than analysts anticipated. Inspections for 2018-19 are running 33.1% behind year-ago, compared with 33.7% behind last week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

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