Soybean inspections bigger than expected

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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.

 

 

 

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