Soybean, corn export inspections at top end of pre-report expectations

USDA’s Weekly Grain Export Inspections

                                              Week Ended Dec. 14, 2023              

Corn

Actual (MT)

947,418

Expectations (MT)

550,000-950,000

Comments

Export inspections are up 222,088 MT from last week’s tally. Inspections are running 26.8% ahead of a year ago, compared to 28.1% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year.

Wheat

Actual (MT)

284,792

Expectations (MT)

200,000-400,000

Comments

Export inspections are down 32,364 MT from the previous week’s figure. Shipments are running 22.0% behind a year-ago, compared to 22.7% behind last week. USDA projects exports in 2023-24 at 725 million bu., down 4.5% from the previous marketing year.

Soybeans

Actual (MT)

1,411,567

Expectations (MT)

750,000-1,500,000

Comments

Export inspections are  up 411,777 MT from last week’s tally. Inspections are running 17.0% behind a year ago, compared to 16.2% behind last week. USDA’s 2023-24 export forecast of 1.755 billion bu., which is 10.9% below 2022-23.