Weekly wheat inspections for the week ended July 17 topped pre-report expectations by a notable margin, while corn inspections fell short. Both wheat and soybean inspections rose on the week.
Export inspections fell 330,677 MT from the previous week’s tally. Inspections are running 28.9% ahead of a year ago, compared to 28.9% ahead last week. USDA projects exports in 2024-25 at 2.750 billion bu., 22.0% above the previous marketing year.
Wheat
Actual (MT)
732,290
Expectations (MT)
300,000-500,000
Comments
Export inspections rose 287,659 MT from the previous week’s figure. Shipments are running 13.7% ahead of year-ago. USDA projects exports in 2025-26 at 850 million bu., up 3.0% from the previous marketing year.
Soybeans
Actual (MT)
364,990
Expectations (MT)
200,000-400,000
Comments
Export inspections rose 213,644 MT from the previous week’s tally. Inspections are running 10.4% ahead of a year ago, compared to 10.4% ahead last week. USDA’s 2024-25 export forecast of 1.865 billion bu., up 9.7% from 2023-24.
