Notable weekly declines in soybean, corn export inspections

USDA’s Weekly Grain Export Inspections

Week Ended Jan. 20, 2022

Corn

Actual (MT)

1,115,731

Expectations (MT)

900,000-1,600,000

Comments

Inspections declined 287,332 MT from last week’s figure, which was revised up 165,815 MT from the original figure. Inspections are running 13.0% behind year-ago, which compares to 12.6% behind last week. USDA projects exports in 2021-22 at 2.425 billion bu., 11.9% below the previous marketing year.

Wheat

Actual (MT)

400,973

Expectations (MT)

250,000-450,000

Comments

Export inspections inched up 16,682 MT from the previous week’s figure, which was increased 15,103 MT from the original figure. Shipments are running 18.2% behind year-ago, which compares to 17.8% behind last week. USDA projects exports in 2021-22 at 825 million bu., down 16.8% from the previous marketing year.

Soybeans

Actual (MT)

1,297,802

Expectations (MT)

1,200,000-1,900,000

Comments

Export inspections declined 428,917 MT from last week’s tally, which was increased modestly. Inspections remain running 23.7% behind year-ago, compared to 23.0% last week. USDA’s 2021-22 export forecast of 2.050 billion bu. is 9.5% below 2020-21.