Corn, Wheat Inspections Slightly Stronger Than Expected

Posted on 12/16/2019 10:06 AM

USDA’s Weekly Grain Export Inspections

Week Ended Dec. 12, 2019

Corn

Actual (MT)

686,686

Expectations (MT)

400,000-650,000

Comments

Inspections increased 197,074 MT from the week prior and shipments were above expectations. Commitments for 2019-20 are 54.8% behind last year at this point, which compares to 56.8% behind last year’s pace last week. USDA's 2019-20 export forecast of 1.850 billion bu. is 10.4% below the year prior.

Wheat

Actual (MT)

506,291

Expectations (MT)

300,000-500,000

Comments

Export inspections increased 140,277 MT from last week’s tally and were above expectations. They are running 15.9% ahead of year-ago compared with 18.0% 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)

1,259,374

Expectations (MT)

900,000-1,600,000

Comments

Export inspections declined 142,151 MT from week-ago levels and were within expectations. Inspections for 2019-20 are running 22.8% ahead of year-ago early in the marketing year, which compares to 21.9% ahead last week. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.5% from 2018-19.

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