Corn, soybean export inspections fall from previous week

Corn inspections were near the middle of expectations, while soybean inspections were at the lower end of what traders anticipated.

Export ship
Export ship
(File image)

USDA’s Weekly Grain Export Inspections

Week Ended May 26, 2022

Corn

Actual (MT)

1,390,851

Expectations (MT)

1,000,000-1,800,000

Comments

Export inspections fell 361,610 MT from last week’s tally. Inspections are running 17.4% behind year-ago, which compares to 16.8% behind last week. USDA projects exports in 2021-22 at 2.500 billion bu., 9.2% below the previous marketing year.

Wheat

Actual (MT)

343,927

Expectations (MT)

250,000-500,000

Comments

Export inspections increased 68,386 MT from the previous week’s figure. Shipments are running 21.1% behind year-ago, which compares to 21.3% behind last week. USDA projects exports in 2021-22 at 810 million bu., down 18.9% from the previous marketing year.

Soybeans

Actual (MT)

378,262

Expectations (MT)

300,000-800,000

Comments

Export inspections declined 202,805 MT from last week’s tally. Inspections are running 12.7% behind year-ago, compared to 13.1% last week. USDA’s 2021-22 export forecast of 2.140 billion bu. is 5.4% below 2020-21.