Soybean Inspections a Bit Higher Than Expected

Posted on 07/15/2019 9:57 AM

USDA’s Weekly Grain Export Inspections

Week Ended July 11, 2019

Corn

Actual (MT)

676,485

Expectations (MT)

500,000-800,000

Comments

Inspections edged 45,000 MT from the week prior and shipments were in line with expectations. Commitments are now 10.1% behind year-ago versus 10.1% behind year-ago last week. USDA's 2018-19 export forecast of 2.100 billion bu. is down 13.9% from the previous marketing year.

Wheat

Actual (MT)

315,358

Expectations (MT)

400,000-600,000

Comments

Export inspections dropped 300,903 MT from last week and inspections fell short of expectations. Inspections are running 48.1% ahead of year-ago early in the marketing year compared with 48.1% ahead of year-ago last week. USDA projects exports in 2019-20 at 950 million bu., up 1.5% from the previous marketing year.

Soybeans

Actual (MT)

854,373

Expectations (MT)

500,000-800,000

Comments

Export inspections climbed 93,000 MT from week-ago levels and inspections were a bit stronger than expected. Inspections for 2018-19 are running 25.3% behind year-ago, compared with 25.3% behind last week. USDA projects exports in 2018-19 at 1.700 billion bu., down 20.3% from year-ago.

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