Weekly wheat and soybean inspections drop on the week; corn holds steady

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

 

USDA’s Weekly Grain Export Inspections

                                            Week Ended March 14, 2024           

Corn

Actual (MT)

1,238,897

Expectations (MT)

900,000-1,250,000

Comments

Export inspections are up 72,668 MT from last week’s tally. Inspections are running 31.3% ahead of a year ago, compared to 33.3% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year.

Wheat

Actual (MT)

302,302

Expectations (MT)

300,000-500,000

Comments

Export inspections are down 164,665 MT from the previous week’s figure. Shipments are running 15.6% behind a year-ago, compared to 15.9% behind last week. USDA projects exports in 2023-24 at 710 million bu., down 6.5% from the previous marketing year.

Soybeans

Actual (MT)

686,181

Expectations (MT)

300,000-1,150,000

Comments

Export inspections are down 98,672 MT from last week’s tally. Inspections are running 18.8% behind a year ago, compared to 19.9% behind last week. USDA’s 2023-24 export forecast of 1.720 billion bu., which is 13.7% below 2022-23.

 

 

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