Corn Inspections Pace Continues to Slow

Posted on 06/24/2019 10:07 AM

USDA’s Weekly Grain Export Inspections

Week Ended June 20, 2019

Corn

Actual (MT)

617,740

Expectations (MT)

600,000-800,000

Comments

Inspections slipped nearly 60,300 MT from the week prior and shipments lined up with expectations. Commitments are now 6.2% behind year-ago versus 4.3% behind year-ago last week. USDA's 2018-19 export forecast of 2.200 billion bu. is down 9.8% from the previous marketing year.

Wheat

Actual (MT)

406,386

Expectations (MT)

300,000-500,000

Comments

Export inspections climbed more than 24,000 MT from last week and inspections were in line with expectations. Inspections are running 5.8% ahead of year-ago early in the marketing year compared with 0.4% ahead of year-ago last week. USDA projects exports in 2019-20 at 900 million bu., down 5.3% from the previous marketing year.

Soybeans

Actual (MT)

682,155

Expectations (MT)

500,000-775,000

Comments

Export inspections edged 1,785 MT higher this week and inspections were in line with expectations. Inspections for 2018-19 are running 25.5% behind year-ago, compared with 26.2% behind last week. USDA projects exports in 2018-19 at 1.700 billion bu., down 20.2% from year-ago.

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