Corn Shipments Remain Light

Posted on 07/22/2019 9:55 AM

USDA’s Weekly Grain Export Inspections

Week Ended July 18, 2019

Corn

Actual (MT)

438,045

Expectations (MT)

500,000-750,000

Comments

Inspections fell 252,382 MT from the week prior and shipments were a bit lighter than expected. Commitments are now 12.5% behind year-ago versus 11.0% behind year-ago last week. USDA's 2018-19 export forecast of 2.100 billion bu. is down 13.9% from the previous marketing year.

Wheat

Actual (MT)

433,117

Expectations (MT)

350,000-550,000

Comments

Export inspections climbed nearly 84,600 MT from last week and inspections fell within the range of of expectations. Inspections are running 27.5% ahead of year-ago compared with 30.6% ahead of year-ago last week. USDA projects exports in 2019-20 at 950 million bu., up 1.5% from the previous marketing year.

Soybeans

Actual (MT)

559,462

Expectations (MT)

450,000-750,000

Comments

Export inspections fell 296,000 MT from week-ago levels and inspections were as expected. Inspections for 2018-19 are running 24.0% behind year-ago, compared with 24.1% behind last week. USDA projects exports in 2018-19 at 1.700 billion bu., down 20.3% from year-ago.

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