Another Strong Week for Soybean Inspections

Posted on 09/03/2019 10:42 AM

USDA’s Weekly Grain Export Inspections

Week Ended Aug. 29, 2019

Corn

Actual (MT)

355,411

Expectations (MT)

500,000-800,000

Comments

Inspections fell 291,028 MT from the week prior and shipments were lighter than expected.  Commitments are now 18.3% behind year-ago versus 17.0% 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)

526,049

Expectations (MT)

400,000-700,000

Comments

Export inspections climbed nearly 21,500 MT from last week and inspections were about as expected. Inspections are running 24.5% ahead of year-ago compared with 23.9% ahead of year-ago last week. USDA projects exports in 2019-20 at 975 million bu., up 4.2% from the previous marketing year.

Soybeans

Actual (MT)

1,281,426

Expectations (MT)

850,000-1,110,000

Comments

Export inspections climbed 315,513 MT from week-ago levels and inspections were in line with expectations. Inspections for 2018-19 are running 18.8% behind year-ago, compared with 19.9% behind last week. USDA projects exports in 2018-19 at 1.700 billion bu., down 20.3% from year-ago.

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