Corn and Wheat Export Inspections Impress

Posted on Mon, 04/05/2021 - 10:18

Cumulative wheat inspections even jumped ahead of year-ago. But soybean inspections were pitiful, at less than 300,000 MT.

USDA’s Weekly Grain Export Inspections

Week Ended April 1, 2021

Corn

Actual (MT)

1,912,211

Expectations (MT)

1,100,000-2,100,000

Comments

Inspections rose nearly 192,000 MT from last week’s tally that was revised just over 25,000 MT higher. Inspections are running 83.5% ahead of year-ago, which compares to 85.8% ahead of last year the week before. USDA's 2020-21 export forecast of 2.6 billion bu. is 46.2% above the year prior.

Wheat

Actual (MT)

594,032

Expectations (MT)

300,000-550,000

Comments

Export inspections rose roughly 287,500 from last week’s tally. Shipments are running 0.3% ahead of year-ago versus 0.9% behind the week before. USDA projects exports in 2020-21 at 985 million bu., up 2.1% from the previous marketing year.

Soybeans

Actual (MT)

298,252

Expectations (MT)

150,000-500,000

Comments

Export inspections fell 141,678 MT MT from last week. Inspections for 2020-21 are 71.0% ahead of year-ago, which compares to 71.6% ahead the week prior. USDA forecasts exports in 2020-21 at 2.25 billion bu., up 33.8% from 2019-20.