Sluggish weekly export inspections

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USDA’s Weekly Grain Export Inspections

Week Ended June 30, 2022

Corn

Actual (MT)

676,824

Expectations (MT)

900,000-1,200,000

Comments

Export inspections dropped 570,126 MT from last week’s tally. Inspections are running 17.5% behind year-ago, which compares to 16.9% behind last week. USDA projects exports in 2021-22 at 2.450 billion bu., 11.0% below the previous marketing year.

Wheat

Actual (MT)

111,830

Expectations (MT)

300,000-500,000

Comments

Export inspections dropped 241,064 MT from the previous week’s figure. Shipments are running 23.9% behind year-ago, compared with 13.0% 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)

354,987

Expectations (MT)

400,000-500,000

Comments

Export inspections declined 120,569 MT from last week’s tally. Inspections are running 10.2% behind year-ago, compared to 10.4% last week. USDA’s 2021-22 export forecast of 2.170 billion bu. is 4.0% below 2020-21.

 

 

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