Sharp slowdown in soybean export inspections

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USDA’s Weekly Grain Export Inspections

Week Ended Nov. 11, 2021

Corn

Actual (MT)

855,698

Expectations (MT)

485,000-750,000

Comments

Inspections increased 206,675 MT from last week’s tally. Inspections are running 17.6% behind year-ago, which compares to 20.6% behind year-ago last week. USDA's 2021-22 export forecast of 2.500 billion bu. is 9.2% below 2020-21.

Wheat

Actual (MT)

388,743

Expectations (MT)

150,000-375,000

Comments

Export inspections increased 137,291 MT from previous week’s light tally. Shipments are running 14.4% behind year-ago, which compares to 15.4% behind last week. USDA projects exports in 2021-22 at 860 million bu., 13.3% below 2020-21.

Soybeans

Actual (MT)

2,073,579

Expectations (MT)

1,625,000-2,500,000

Comments

Export inspections declined 836,521 MT from last week’s tally, which was revised up 263,208 MT from the initial figure. Inspections are running 28.2% behind year-ago, which compares to 30.8% behind year-ago the week prior. USDA’s 2021-22 export forecast of 2.050 billion bu. is 9.5% below 2020-21.

 

 

 

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