Another Week of Sluggish Soybean, Wheat Export Inspections

Posted on 12/31/2018 11:29 AM

USDA’s Weekly Grain Export Inspections

Week Ended Dec. 27, 2018

Corn

Actual (MT)

913,797

Expectations (MT)

850,000-1,100,000

Comments

Inspections were down 82,972 MT from the week prior, and were just above the top end of the pre-report range of estimates.  Inspections are running 69.1% ahead of year-ago, versus 72.2% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.450 billion bu. is up 0.5% from the previous marketing year.

Wheat

Actual (MT)

376,281

Expectations (MT)

375,000-625,000

Comments

Export inspections were down 138,810 MT from last week and the tally was below the bottom end of expectations. Inspections are running 12.9% behind the 2017-18 marketing year, versus 14.1% behind last week. USDA projects exports in 2018-19 at 1.000 billion bu., up 11.0% from the previous marketing year.

Soybeans

Actual (MT)

677,679

Expectations (MT)

700,000-1,000,000

Comments

Export inspections were up 11,835 MT from last week and at the top end of the range of pre-report expectations. Inspections for 2018-19 are running 41.8% behind year-ago, compared with 41.8% behind last week. USDA projects exports in 2018-19 at 1.900 billion bu., down 10.8% from year-ago.

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