Soybean and Wheat Inspections Near Upper End of Expectations

Posted on 04/08/2019 10:06 AM

USDA’s Weekly Grain Export Inspections

Week Ended April 4, 2019

Corn

Actual (MT)

1,035,423

Expectations (MT)

1,000,000-1,300,000

Comments

Inspections dropped nearly 224,000 MT from the week prior and shipments were near the lower end of traders’ expectations. Inspections are running 15.9% ahead of year-ago, versus 20.7% 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)

538,808

Expectations (MT)

300,000-600,000

Comments

Export inspections climbed 84,521 MT and the tally aligned with expectations. Inspections are running 4.8% behind the 2017-18 marketing year, versus 5.6% behind last week. USDA projects exports in 2018-19 at 965 million bu., up 7.1% from the previous marketing year.

Soybeans

Actual (MT)

888,160

Expectations (MT)

600,000-900,000

Comments

Export inspections rose 156,570 MT from last week and inspections were near the upper end of expectations. Inspections for 2018-19 are running 28.0% behind year-ago, compared with 29.5% behind last week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

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