Soybean export inspections remain stable

USDA’s Weekly Grain Export Inspections

                                               Week Ended Feb. 9, 2022               

Corn

Actual (MT)

511,506

Expectations (MT)

360,000-800,000

Comments

Export inspections are up 17,506 MT from last week’s tally. Inspections are running 34.9% behind a year-ago, compared to 32.7% behind last week. USDA projects exports in 2022-23 at 1.925 billion bu., 22.0% below the previous marketing year.

Wheat

Actual (MT)

472,327

Expectations (MT)

250,000-600,000

Comments

Export inspections are down 118,232 MT from the previous week’s figure. Shipments are running 1.5% behind a year-ago, compared with 2.1% 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)

1,555,166

Expectations (MT)

650,000-1,920,000

Comments

Export inspections are down 359,467 MT from last week’s tally. Inspections are running 1.6% ahead of a year ago, compared to 0.5% ahead last week. USDA’s 2022-23 export forecast of 1.990 billion bu. is 8.0% below 2021-22.