Weekly wheat inspections shy of pre-report range

USDA Weekly Export Inspections Report
USDA Weekly Export Inspections Report
(Chip Flory)

 

USDA’s Weekly Grain Export Inspections

                                              Week Ended Jan. 25, 2024              

Corn

Actual (MT)

901,958

Expectations (MT)

700,000-1,100,000

Comments

Export inspections are up 155,025 MT from last week’s tally. Inspections are running 29.8% ahead of a year ago, compared to 27.7% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year.

Wheat

Actual (MT)

264,666

Expectations (MT)

350,000-550,000

Comments

Export inspections are down 50,520 MT from the previous week’s figure. Shipments are running 16.9% behind a year-ago, compared to 16.1% behind last week. USDA projects exports in 2023-24 at 725 million bu., down 4.5% from the previous marketing year.

Soybeans

Actual (MT)

889,717

Expectations (MT)

500,000-1,300,000

Comments

Export inspections are down 295,239 MT from last week’s tally. Inspections are running 23.6% behind a year ago, compared to 21.9% behind last week. USDA’s 2023-24 export forecast of 1.755 billion bu., which is 10.9% below 2022-23.

 

 

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