Corn Inspections Jump as Soybean, Wheat Shipments Match Trade Estimates

Posted on 09/09/2019 11:43 AM

 

USDA’s Weekly Grain Export Inspections

Week Ended Sept. 5, 2019

Corn

Actual (MT)

590,013

Expectations (MT)

400,000-600,000

Comments

Inspections jumped 232,229 MT from the week prior and shipments were at the top end of trade forecasts.  Commitments for the new season that began Sept. 1 are 34% behind last year’s start. USDA's 2019-20 export forecast of 2.050 billion bu. is 2.4% below the 2.1 billion bu. in 2018-19.

Wheat

Actual (MT)

402,486

Expectations (MT)

400,000-650,000

Comments

Export inspections fell more than 156,000 MT from the prior week and inspections were at the low end of trade expectations. Inspections are running 22.7% ahead of year-ago compared with 24.5% 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)

906,029

Expectations (MT)

700,000-1,200,000

Comments

Export inspections fell more than 384,000MT from week-ago levels and inspections were in line with expectations. Inspections for 2019-20 are nearly 40% behind year-ago in the first week of the marketing year.  USDA forecasts exports in 2019-20 at 1.775 billion bu., up from 1.700 billion bu. estimated for 2018-19.

 

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