During the week ended May 15, corn inspections rose 419,000 MT from the previous week, nearly topping analysts’ pre-report range. Soybean inspections were notably short of expectations.
Export inspections rose 418,922 MT from the previous week’s tally. Inspections are running 29.2% ahead of a year ago, compared to 28.6% ahead last week. USDA projects exports in 2024-25 at 2.550 billion bu., 11.3% above the previous marketing year.
Wheat
Actual (MT)
423,785
Expectations (MT)
300,000-500,000
Comments
Export inspections rose 18,615MT from the previous week’s figure. Shipments are running 15.7.% ahead of year-ago, compared to 14.8% ahead last week. USDA projects exports in 2024-25 at 820 million bu., up 16.0% from the previous marketing year.
Soybeans
Actual (MT)
217,842
Expectations (MT)
300,000-550,000
Comments
Export inspections fell 221,703 MT from the previous week’s tally. Inspections are running 11.1% ahead of a year ago, compared to 11.0% ahead last week. USDA’s 2024-25 export forecast of 1.825 billion bu., up 7.7% from 2023-24.
