Weekly soybean inspections prove notable at over 2.0 MMT
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USDA’s Weekly Grain Export Inspections Week Ended Oct. 12, 2023 |
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|
Corn |
|
|
Actual (MT) |
434,471 |
|
Expectations (MT) |
550,000-800,000 |
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Comments |
Export inspections are down 369,947 MT from last week’s tally. Inspections are running 19.2% ahead of a year ago, compared to 20.7% ahead last week. USDA projects exports in 2023-24 at 2.025 billion bu., 21.9% above the previous marketing year. |
|
Wheat |
|
|
Actual (MT) |
354,771 |
|
Expectations (MT) |
250,000-450,000 |
|
Comments |
Export inspections are up 48,708 MT from the previous week’s figure. Shipments are running 28.0% behind a year-ago, compared to 29.0% last week. USDA projects exports in 2023-24 at 700 million bu., down 7.8% from the previous marketing year. |
|
Soybeans |
|
|
Actual (MT) |
2,011,599 |
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Expectations (MT) |
650,000-1,300,000 |
|
Comments |
Export inspections are up 607,667 MT from last week’s tally. Inspections are running 14.5% ahead of a year ago, compared to 30.0% ahead last week. USDA’s 2023-24 export forecast of 1.755 billion bu., which is 11.9% below 2023-22. |
