Weekly corn inspections surpass pre-report expectations
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USDA’s Weekly Grain Export Inspections Week Ended Feb. 22, 2024 |
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Corn |
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Actual (MT) |
1,241,692 |
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Expectations (MT) |
550,000-1,150,000 |
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Comments |
Export inspections are up 189,447 MT from last week’s tally. Inspections are running 35.5% ahead of a year ago, compared to 32.0% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year. |
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Wheat |
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Actual (MT) |
481,999 |
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Expectations (MT) |
250,000-525,000 |
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Comments |
Export inspections are up 62,221 MT from the previous week’s figure. Shipments are running 17.6% behind a year-ago, compared to 17.5% behind last week. USDA projects exports in 2023-24 at 725 million bu., down 4.5% from the previous marketing year. |
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Soybeans |
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Actual (MT) |
974,977 |
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Expectations (MT) |
600,000-1,300,000 |
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Comments |
Export inspections are down 316,435 MT from last week’s tally. Inspections are running 21.6% behind a year ago, compared to 22.8% behind last week. USDA’s 2023-24 export forecast of 1.720 billion bu., which is 13.7% below 2022-23. |
