Corn Inspections Near Upper End of Expectations

Posted on 04/15/2019 10:58 AM

USDA’s Weekly Grain Export Inspections

Week Ended April 11, 2019

Corn

Actual (MT)

1,182,140

Expectations (MT)

800,000-1,200,000

Comments

Inspections climbed nearly 120,000 MT from the week prior and shipments were near the upper end of traders’ expectations. Inspections are running 13.7% ahead of year-ago, versus 15.9% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.300 billion bu. is down 5.7% from the previous marketing year.

Wheat

Actual (MT)

511,400

Expectations (MT)

400,000-600,000

Comments

Export inspections slipped 43,483 MT and the tally lined up with expectations. Inspections are running 4.5% behind the 2017-18 marketing year, versus 4.8% behind last week. USDA projects exports in 2018-19 at 945 million bu., up 4.9% from the previous marketing year.

Soybeans

Actual (MT)

460,667

Expectations (MT)

460,000-900,000

Comments

Export inspections tumbled 427,983 from last week and inspections were near the low end of expectations. Inspections for 2018-19 are running 27.6% behind year-ago, compared with 28.0% behind last week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

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