Ho-hum Export Inspections

Posted on 10/15/2019 11:17 AM

USDA’s Weekly Grain Export Inspections

Week Ended Oct. 10, 2019

Corn

Actual (MT)

470,612

Expectations (MT)

400,000-700,000

Comments

Inspections fell roughly 2,800 MT from the week prior and shipments were in line with expectations. Commitments for the new season that began Sept. 1 are 63.9% behind last year at this point which compares to 65.8% behind last year’s pace last week. USDA's 2019-20 export forecast of 2.050 billion bu. is 0.4% below the year prior.

Wheat

Actual (MT)

462,651

Expectations (MT)

300,000-600,000

Comments

Export inspections slipped 16,684 MT from the prior week and inspections were in line with trade expectations. Inspections are running 20.8% ahead of year-ago compared with 20.9% ahead of year-ago pace a week earlier. USDA projects exports in 2019-20 at 975 million bu., up 4.2% from the previous marketing year.

Soybeans

Actual (MT)

954,881

Expectations (MT)

750,000-1,250,000

Comments

Export inspections slipped 96,701 MT from week-ago levels and inspections lines up with expectations. Inspections for 2019-20 are 7.4% ahead of year-ago early in the marketing year. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.7% from 2018-19.

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