Another Week of Strong Wheat Inspections

Posted on 05/20/2019 10:45 AM

USDA’s Weekly Grain Export Inspections

Week Ended May 16, 2019

Corn

Actual (MT)

820,916

Expectations (MT)

600,000-1,000,000

Comments

Inspections fell nearly 180,000 MT from the week prior and shipments were right in line with traders’ expectations. Inspections are running 3.1% ahead of year-ago, versus 5.3% 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)

757,704

Expectations (MT)

400,000-600,000

Comments

Export inspections dipped nearly 120,600 MT from last week and inspections were stronger than expected. Inspections are running 2.3% ahead of the 2017-18 marketing year, versus 0.4% ahead last week. USDA projects exports in 2018-19 at 925 million bu., up 2.7% from the previous marketing year.

Soybeans

Actual (MT)

497,070

Expectations (MT)

400,000-700,000

Comments

Export inspections slipped nearly 17,000 MT from last week and inspections were in line with what traders expected. Inspections for 2018-19 are running 27.4% behind year-ago, compared with 27.0% behind last week. USDA projects exports in 2018-19 at 1.775 billion bu., down 16.6% from year-ago.

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