Light Corn Shipments to Kick off March

Posted on 03/11/2019 1:42 PM

USDA’s Weekly Grain Export Inspections

Week Ended March 7, 2019

Corn

Actual (MT)

765,618

Expectations (MT)

800,000-1,000,000

Comments

Inspections were down 99,999 MT from the week prior and were lighter than expected. Inspections are running 30.5% ahead of year-ago, versus 35.9% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.375 billion bu. is down 2.6% from the previous marketing year.

Wheat

Actual (MT)

592,001

Expectations (MT)

450,000-650,000

Comments

Export inspections were up 103,172 MT from last week and the tally was near the upper end of expectations. Inspections are running 5.9% behind the 2017-18 marketing year, versus 7.2% behind last week. USDA projects exports in 2018-19 at 965 million bu., up 7.1% from the previous marketing year.

Soybeans

Actual (MT)

 874,363

Expectations (MT)

700,000-1,050,000

Comments

Export inspections climbed 26,006 MT from last week and inspections were in line with what analysts anticipated. Inspections for 2018-19 are running 32.5% behind year-ago, compared with 33.1% behind last week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

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