Inspections Slide from Last Week’s Strong Showing

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Shipments of corn, soybeans and wheat were within expectations. Of note, corn inspections for the week ending May 13 were revised more than 91,000 MT higher vs. what was initially reported.

USDA’s Weekly Grain Export Inspections

Week Ended May 20, 2021

Corn

Actual (MT)

1,727,878

Expectations (MT)

1,700,000-2,200,000

Comments

Inspections fell 255,581 MT from last week’s tally, which was revised more than 91,000 MT higher. Inspections are running 78.0% ahead of year-ago, which compares to 78.5% 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)

573,912

Expectations (MT)

425,000-625,000

Comments

Export inspections retreated 86,386 MT from last week’s tally. Shipments are running 2.3% ahead of year-ago versus 1.8% ahead the week before. USDA projects exports in 2020-21 at 965 million bu., steady with the previous marketing year.

Soybeans

Actual (MT)

193,912

Expectations (MT)

150,000-250,000

Comments

Export inspections fell roughly 116,500 MT from last week. Inspections for 2020-21 are 60.3% ahead of year-ago, which compares to 61.3% 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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