Solid weekly corn inspections at over 1.5 MMT

USDA’s Weekly Grain Export Inspections

                                             Week Ended April 27, 2023             

Corn

Actual (MT)

1,518,202

Expectations (MT)

700,000-1,350,000

Comments

Export inspections are up 579,361 MT from last week’s tally. Inspections are running 34.7% behind a year-ago, compared to 35.9% behind last week. USDA projects exports in 2022-23 at 1.850 billion bu., 25.1% below the previous marketing year.

Wheat

Actual (MT)

358,273

Expectations (MT)

200,000-400,000

Comments

Export inspections are down 5,553 MT from the previous week’s figure. Shipments are running 2.8% behind a year-ago, compared with 2.8% behind a year-ago last week. USDA projects exports in 2022-23 at 775 million bu., down 3.1% from the previous marketing year.

Soybeans

Actual (MT)

401,976

Expectations (MT)

200,000-700,000

Comments

Export inspections are up 24,248 MT from last week’s tally. Inspections are running 0.4% ahead of a year ago, compared to 0.8% ahead last week. USDA’s 2022-23 export forecast of 2.015 billion bu. is 6.6% below 2021-22.