Weekly inspections prove mostly steady; soybeans continue to lag year-ago
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USDA’s Weekly Grain Export Inspections Week Ended Nov. 16, 2023 |
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Corn |
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Actual (MT) |
553,899 |
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Expectations (MT) |
450,000-850,000 |
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Comments |
Export inspections are down 153,475 MT from last week’s tally. Inspections are running 23.8% ahead of a year ago, compared to 23.1% ahead last week. USDA projects exports in 2023-24 at 2.025 billion bu., 21.9% above the previous marketing year. |
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Wheat |
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Actual (MT) |
358,254 |
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Expectations (MT) |
150,000-450,000 |
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Comments |
Export inspections are up 135,682 MT from the previous week’s figure. Shipments are running 24.0% behind a year-ago, compared to 25.6% last week. USDA projects exports in 2023-24 at 700 million bu., down 7.8% from the previous marketing year. |
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Soybeans |
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Actual (MT) |
1,609,413 |
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Expectations (MT) |
1,100,000-2,000,000 |
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Comments |
Export inspections are down 330,666 MT from last week’s tally. Inspections are running 8.3% behind a year ago, compared to 5.6% behind last week. USDA’s 2023-24 export forecast of 1.755 billion bu., which is 11.9% below 2023-22. |
