Corn inspections just shy of 1 MMT
Inspections for corn, soybeans and wheat were in line with expectations. Of note, USDA did hike its wheat inspections tally for the week ended July 1 vs. what was initially reported.
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USDA’s Weekly Grain Export Inspections Week Ended July 8, 2021 |
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Corn |
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Actual (MT) |
993,974 |
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Expectations (MT) |
950,000-1,350,000 |
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Comments |
Inspections fell 242269 MT from last week’s tally. Inspections are running 67.6% ahead of year-ago, which compares to 69.1% ahead of last year the week before. USDA's 2020-21 export forecast of 2.850 billion bu. is 60.3% above the year prior. |
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Wheat |
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Actual (MT) |
424,327 |
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Expectations (MT) |
240,000-450,000 |
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Comments |
Export inspections climbed roughly 62,500 MT from last week’s tally, which was revised nearly 103,400 MT higher. So far this marketing year, shipments are running 24.4% behind year-ago vs. 25.8% behind year-ago last week. USDA projects exports in 2021-22 at 900 million bu., 8.6% below 2020-21. |
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Soybeans |
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Actual (MT) |
200,933 |
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Expectations (MT) |
100,000-300,000 |
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Comments |
Export inspections climbed slipped just 7,203 MT from last week. Inspections for 2020-21 are 52.3% ahead of year-ago, which compares to 53.7% ahead the week prior. USDA forecasts exports in 2020-21 at 2.280 billion bu., up 35.6% from 2019-20. |
