Strong Grain Inspections Contrast with Weak Bean Shipments

Posted on 04/22/2019 10:10 AM

USDA’s Weekly Grain Export Inspections

Week Ended April 18, 2019

Corn

Actual (MT)

1,353,114

Expectations (MT)

800,000-1,100,000

Comments

Inspections climbed nearly 170,000 MT from the week prior and shipments were higher than traders expected. Inspections are running 11.6% ahead of year-ago, versus 13.7% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.300 billion bu. is down 5.7% from the previous marketing year.

Wheat

Actual (MT)

811,130

Expectations (MT)

350,000-600,000

Comments

Export inspections climbed 282,416 MT from week-ago and the tally handily topped expectations. Inspections are running 3.5% behind the 2017-18 marketing year, versus 4.5% behind last week. USDA projects exports in 2018-19 at 945 million bu., up 4.9% from the previous marketing year.

Soybeans

Actual (MT)

382,298

Expectations (MT)

400,000-800,000

Comments

Export inspections dropped nearly 94,000 MT from last week and inspections were even lighter than expected. Inspections for 2018-19 are running 27.5% behind year-ago, compared with 27.6% behind last week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

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