Corn, Soybean and Wheat Inspections Near Low End of Expectations

Posted on 09/16/2019 10:09 AM

 

USDA’s Weekly Grain Export Inspections

Week Ended Sept. 12, 2019

Corn

Actual (MT)

421,803

Expectations (MT)

400,000-700,000

Comments

Inspections fell 190,262 MT from the week prior and shipments were near the lower end of trade forecasts. Commitments for the new season that began Sept. 1 are 48.2% behind last year’s start. USDA's 2019-20 export forecast of 2.050 billion bu. is 0.4% below the year prior.

Wheat

Actual (MT)

459,258

Expectations (MT)

400,000-600,000

Comments

Export inspections fell nearly 47,000 MT from the prior week and inspections were at the low end of trade expectations. Inspections are running 22.1% ahead of year-ago compared with 22.7% 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)

666,490

Expectations (MT)

600,000-1,000,000

Comments

Export inspections fell 311,424 MT from week-ago levels and inspections were in line with expectations. Inspections for 2019-20 are 23.5% behind year-ago levels early in the marketing year. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.7% from 2018-19.

 

 

 

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