Corn Inspections Top Expectations

Posted on 04/01/2019 10:07 AM

USDA’s Weekly Grain Export Inspections

Week Ended March 28, 2019

Corn

Actual (MT)

1,259,267

Expectations (MT)

700,000-1,000,000

Comments

Inspections surged 263,102 MT from the week prior and were even stronger than expected. Inspections are running 20.7% ahead of year-ago, versus 22.8% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.375 billion bu. is down 2.6% from the previous marketing year.

Wheat

Actual (MT)

418,424

Expectations (MT)

300,000-550,000

Comments

Export inspections edged roughly 33,500 MT higher the week ending March 28 and the tally matched expectations. Inspections are running 5.6% behind the 2017-18 marketing year, versus 5.9% behind last week. USDA projects exports in 2018-19 at 965 million bu., up 7.1% from the previous marketing year.

Soybeans

Actual (MT)

730,806

Expectations (MT)

500,000-900,000

Comments

Export inspections slipped 128,902 MT from last week and inspections were in line with expectations. Inspections for 2018-19 are running 29.5% behind year-ago, compared with 30.3% behind last week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

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