Weekly wheat inspections continue to lag

USDA Weekly Export Inspections Report
USDA Weekly Export Inspections Report
(USDA)

 

USDA’s Weekly Grain Export Inspections

                                              Week Ended Oct. 19, 2023              

Corn

Actual (MT)

437,549

Expectations (MT)

350,000-650,000

Comments

Export inspections are down 29,055 MT from last week’s tally. Inspections are running 16.7% ahead of a year ago, compared to 19.2% ahead last week. USDA projects exports in 2023-24 at 2.025 billion bu., 21.9% above the previous marketing year.

Wheat

Actual (MT)

168,868

Expectations (MT)

275,000-500,000

Comments

Export inspections are down 187,174 MT from the previous week’s figure. Shipments are running 27.2% behind a year-ago, compared to 28.0% last week. USDA projects exports in 2023-24 at 700 million bu., down 7.8% from the previous marketing year.

Soybeans

Actual (MT)

2,458,955

Expectations (MT)

1,500,000-2,500,000

Comments

Export inspections are up 419,446 MT from last week’s tally. Inspections are running 3.3% ahead of a year ago, compared to 14.5% ahead last week. USDA’s 2023-24 export forecast of 1.755 billion bu., which is 11.9% below 2023-22.

 

 

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