Corn, wheat export inspections top pre-report estimates while soybeans miss
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USDA’s Weekly Grain Export Inspections Week Ended March 28, 2024 |
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Corn |
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Actual (MT) |
1,431,535 |
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Expectations (MT) |
800,000-1,375,000 |
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Comments |
Export inspections are up 176,370 MT from last week’s tally. Inspections are running 33.5% ahead of a year ago, compared to 33.6% 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) |
498,989 |
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Expectations (MT) |
275,000-425,000 |
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Comments |
Export inspections are up 66,225 MT from the previous week’s figure. Shipments are running 12.3% behind a year-ago, compared to 15.1% behind last week. USDA projects exports in 2023-24 at 710 million bu., down 6.5% from the previous marketing year. |
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Soybeans |
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Actual (MT) |
414,484 |
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Expectations (MT) |
500,000-900,000 |
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Comments |
Export inspections are down 370,632 MT from last week’s tally. Inspections are running 18.7% behind a year ago, compared to 18.7% behind last week. USDA’s 2023-24 export forecast of 1.720 billion bu., which is 13.7% below 2022-23. |
