Another Week of Solid Corn Inspections, But Wheat Shipments Slid

Posted on Mon, 05/11/2020 - 10:12

Soybean export inspections improved from last week and were in line with expectations.  

USDA’s Weekly Grain Export Inspections

Week Ended May 7, 2020

Corn

Actual (MT)

1,334,686

Expectations (MT)

900,000-1,200,000

Comments

Inspections climbed slipped just over 14,000 MT from last week, and inspections topped expectations. Commitments for 2019-20 are 31.7% behind last year at this point, which compares to 33.9% behind last year’s pace last week. USDA's 2019-20 export forecast of 1.725 billion bu. is 16.5% below the year prior.

Wheat

Actual (MT)

340,310

Expectations (MT)

400,000-650,000

Comments

Export inspections dropped 247,883 MT from last week, and inspections fell short of expectations. Shipments are running 2.7% ahead of year-ago compared with 5.0% ahead of last year’s pace a week earlier. USDA projects exports in 2019-20 at 985 million bu., up 5.2% from the previous marketing year.

Soybeans

Actual (MT)

496,498

Expectations (MT)

350,000-700,000

Comments

Export inspections rose 115,517 MT from last week and were in line with expectations. Inspections for 2019-20 are running 5.1% ahead of year-ago, which compares to 6.1% ahead last week. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.5% from 2018-19.