Weekly corn inspections outpace year-ago

USDA’s Weekly Grain Export Inspections

                                              Week Ended Sept. 7, 2023              

Corn

Actual (MT)

623,862

Expectations (MT)

375,000-750,000

Comments

Export inspections are up 141,073 MT from last week’s tally. Inspections are running 4.3% ahead of a year-ago. USDA projects exports in 2023-24 at 2.050 billion bu., 26.0% above the previous marketing year.

Wheat

Actual (MT)

406,181

Expectations (MT)

225,000-450,000

Comments

Export inspections are up 88,105 MT from the previous week’s figure. Shipments are running 26.0% behind a year-ago. USDA projects exports in 2023-24 at 700 million bu., down 8.0% from the previous marketing year.

Soybeans

Actual (MT)

310,073

Expectations (MT)

300,000-725,000

Comments

Export inspections are down 96,861 MT from last week’s tally. Inspections are running 21.3% behind a year ago. USDA’s 2023-24 export forecast of 1.825 billion bu., which is 8.0% below 2023-22.