Corn, soybean export inspections slowed by Ida

Corn and soybean inspections dropped sharply, as expected, due to impacts from Hurricane Ida.

USDA-port-exports-ship.jpg
USDA-port-exports-ship.jpg

USDA’s Weekly Grain Export Inspections

Week Ended Sept. 2, 2021

Corn

Actual (MT)

275,799

Expectations (MT)

125,000-550,000

Comments

Inspections fell 307,699 MT from last week’s tally, which was revised nearly 20,000 MT higher from what was initially reported. At the start of the 2021-22 marketing year, inspections are running 85.5% behind year-ago. USDA’s 2021-22 export forecast of 2.400 billion bu. is 13.5% below 2020-21.

Wheat

Actual (MT)

381,551

Expectations (MT)

150,000-525,000

Comments

Export inspections improved 11,090 MT from last week’s tally, which was revised 53,617 MT higher. So far this marketing year, shipments are running 13.1% behind year-ago vs. 10.4% behind year-ago last week. USDA projects exports in 2021-22 at 875 million bu., 11.8% below 2020-21.

Soybeans

Actual (MT)

68,059

Expectations (MT)

50,000-250,000

Comments

Export inspections fell 318,780 MT from last week’s tally that was revised roughly 9,500 MT higher. At the start of the 2021-22 marketing year, inspections are running 97.2% behind year-ago. USDA’s 2021-22 export forecast of 2.055 billion bu. is 9.1% below 2020-21.