Export inspections continue to lag behind last year’s levels

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USDA’s Weekly Grain Export Inspections

Week Ended July 21, 2022

Corn

Actual (MT)

724, 214

Expectations (MT)

585,000-1,200,000

Comments

Export inspections are down 349,758 MT from last week’s tally. Inspections are running 17.2% behind year-ago, which compares to 17% behind last week. USDA projects exports in 2021-22 at 2.450 billion bu., 11.0% below the previous marketing year.

Wheat

Actual (MT)

475,426

Expectations (MT)

200,000-550,000

Comments

Export inspections are up 289,437 MT from the previous week’s figure. Shipments are running 23.5% behind year-ago, compared with 18% behind year-ago last week. USDA projects exports in 2022-23 at 775 million bu., down 3.7% from the previous marketing year.

Soybeans

Actual (MT)

388,212

Expectations (MT)

100,000-575,000

Comments

Export inspections are down 48,617 MT from last week’s tally. Inspections are running 8.9% behind a year-ago, compared to 10% behind last week. USDA’s 2021-22 export forecast of 2.170 billion bu. is 4.0% below 2020-21.

 

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