Light corn, soybean and wheat inspections
But today’s update also featured upside revisions to USDA’s initially reported soybean and especially corn export inspections for the week ending June 17. USDA upped last week’s inspections by nearly 300,000 MT vs. what was initially reported.
|
USDA’s Weekly Grain Export Inspections Week Ended June 24, 2021 |
|
|
Corn |
|
|
Actual (MT) |
1,008,351 |
|
Expectations (MT) |
1,200,000-1,700,000 |
|
Comments |
Inspections fell 767,367 MT from last week’s tally, which was revised a dramatic 294,290 MT higher. Inspections are running 70.4% ahead of year-ago, which compares to 72.9% 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. |
|
Wheat |
|
|
Actual (MT) |
285,654 |
|
Expectations (MT) |
400,000-600,000 |
|
Comments |
Export inspections plunged 265,836 MT from last week’s tally. Early in the 2021-22 marketing year, shipments are running 23.5% behind year-ago vs. 16.3% behind year-ago last week. USDA projects exports in 2021-22 at 900 million bu., 8.6% below 2020-21. |
|
Soybeans |
|
|
Actual (MT) |
103,965 |
|
Expectations (MT) |
100,000-300,000 |
|
Comments |
Export inspections dropped nearly 101,200 MT from last week’s tally that was revised nearly 30,000 MT higher. Inspections for 2020-21 are 55.3% ahead of year-ago, which compares to 56.2% ahead the week prior. USDA forecasts exports in 2020-21 at 2.280 billion bu., up 35.6% from 2019-20. |
