Corn export inspections decline but remain strong

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USDA’s Weekly Grain Export Inspections

Week Ended June 3, 2021

Corn

Actual (MT)

1,413,073

Expectations (MT)

1,400,000-2,200,000

Comments

Inspections declined 691,290 MT from last week’s tally, which was revised 55,146 MT higher. Inspections are running 75.4% ahead of year-ago, which compares to 77.8% ahead of last year the week before. USDA's 2020-21 export forecast of 2.775 billion bu. is 56.1% above the year prior.

Wheat

Actual (MT)

418,547

Expectations (MT)

230,000-450,000

Comments

Export inspections increased 158,259 MT from last week’s tally. Shipments started the 2021-22 marketing year 45.3% behind year-ago. USDA projects exports in 2021-22 at 900 million bu., 6.7% below 2020-21.

Soybeans

Actual (MT)

237,108

Expectations (MT)

100,000-300,000

Comments

Export inspections increased 42,977 MT from last week’s tally. Inspections for 2020-21 are 58.3% ahead of year-ago, which compares to 58.9% ahead the week prior. USDA forecasts exports in 2020-21 at 2.280 billion bu., up 35.6% from 2019-20.

 

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