Solid Corn, Soybean and Wheat Inspections

Posted on Mon, 09/14/2020 - 10:45

Shipments were within expectations but up notably from year-ago for corn and soybeans, especially.

USDA’s Weekly Grain Export Inspections

Week Ended Sept. 10, 2020

Corn

Actual (MT)

878,907

Expectations (MT)

500,000-900,000

Comments

Inspections slipped roughly 9,000 MT from last week and the tally was near the upper end of expectations. Early in the 2020-21 marketing year, inspections are 28.6% ahead of year-ago. USDA's 2020-21 export forecast of 2.325 billion bu. is 31.7% above the year prior.

Wheat

Actual (MT)

637,226

Expectations (MT)

450,000-700,000

Comments

Export inspections edged 62,084 MT lower from last week and shipments were within pre-report estimates. Shipments are 7.6% ahead of year-ago, which compares to 6.4% ahead of year-ago the week prior. USDA projects exports in 2020-21 at 975 million bu., up 1.0% from the previous marketing year.

Soybeans

Actual (MT)

1,283,936

Expectations (MT)

800,000-1,500,000

Comments

Export inspections slipped 112,141 MT from last week but shipments were still easily within expectations. Inspections for 2020-21 are 48.9% ahead of year-ago early in the marketing year. USDA forecasts exports in 2020-21 at 2.125 billion bu., up 26.5% from 2019-20.