Soybean inspections bigger than expected
USDA’s Weekly Grain Export Inspections Week Ended Nov. 4, 2021 |
|
Corn |
|
Actual (MT) |
563,163 |
Expectations (MT) |
550,000-1,000,000 |
Comments |
Inspections dropped 107,922 MT from last week’s tally. Inspections are running 20.6% behind year-ago, which compares to 21.5% behind year-ago last week. USDA's 2021-22 export forecast of 2.500 billion bu. is 9.2% below 2020-21. |
Wheat |
|
Actual (MT) |
231,854 |
Expectations (MT) |
150,000-400,000 |
Comments |
Export inspections increased 101,133 MT from previous week’s light tally. Shipments are running 15.4% behind year-ago, the same as last week. USDA projects exports in 2021-22 at 875 million bu., 11.8% below 2020-21. |
Soybeans |
|
Actual (MT) |
2,646,892 |
Expectations (MT) |
1,100,000-2,515,000 |
Comments |
Export inspections increased slightly from last week’s tally, which was revised up 335,531 MT from the initial figure. Inspections are running 30.8% behind year-ago, which compares to 36.7% behind year-ago the week prior. USDA’s 2021-22 export forecast of 2.090 billion bu. is 7.7% below 2020-21. |