Solid Bean Inspections Contrast with Lackluster Grain Shipments

Posted on 10/07/2019 10:06 AM

USDA’s Weekly Grain Export Inspections

Week Ended Oct. 3, 2019

Corn

Actual (MT)

466,521

Expectations (MT)

500,000-700,000

Comments

Inspections rose 44,786 MT from the week prior but shipments were still lighter than expected. Commitments for the new season that began Sept. 1 are 65.8% behind last year at this point which compares to 65.7% behind last year’s pace last week. USDA's 2019-20 export forecast of 2.050 billion bu. is 0.4% below the year prior.

Wheat

Actual (MT)

385,259

Expectations (MT)

400,000-600,000

Comments

Export inspections slipped 117,656 MT from the prior week and inspections were just shy of trade expectations. Inspections are running 20.9% 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)

1,038,988

Expectations (MT)

900,000-1,400,000

Comments

Export inspections climbed nearly 53,000 MT from week-ago levels and inspections were in line with with expectations. Inspections for 2019-20 are 17.1% ahead of year-ago early in the marketing year, which compares to 6.0% ahead last week. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.7% from 2018-19.

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