Solid Bean Shipments to Kick off November

Posted on 11/12/2019 11:19 AM

USDA’s Weekly Grain Export Inspections

Week Ended Nov. 7, 2019

Corn

Actual (MT)

560,105

Expectations (MT)

350,000-600,000

Comments

Inspections climbed 276,401 from the week prior and shipments were in line with expectations. Commitments for the new season that began Sept. 1 are 62.4% behind last year at this point, which compares to 62.4% behind last year’s pace last week. USDA's 2019-20 export forecast of 1.900 billion bu. is 8.0% below the year prior.

Wheat

Actual (MT)

528,875

Expectations (MT)

300,000-500,000

Comments

Export inspections rose 234,904 MT from last week’s tally and inspections were a bit higher than expected. Inspections are running 23.1% ahead of year-ago compared with 22.1% ahead of year-ago pace a week earlier. USDA projects exports in 2019-20 at 950 million bu., up 1.5% from the previous marketing year.

Soybeans

Actual (MT)

1,331,631

Expectations (MT)

800,000-1,600,000

Comments

Export inspections fell 150,813 MT from week-ago levels and inspections were in line with expectations. Inspections for 2019-20 are running 9.1% ahead of year-ago early in the marketing year, which compares to 10.8% ahead last week. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.5% from 2018-19.

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