Soybean inspections near the top of trade expectations

Soybean inspections continue to run stronger than normal for this time of year.

Export ship
Export ship
(USDA)

USDA’s Weekly Grain Export Inspections

Week Ended May 12, 2022

Corn

Actual (MT)

1,036,549

Expectations (MT)

750,000-1,750,000

Comments

Export inspections declined 440,697 MT from last week’s tally. Inspections are running 17.4% behind year-ago, which compares to 16.2% behind last week. USDA projects exports in 2021-22 at 2.500 billion bu., 9.2% below the previous marketing year.

Wheat

Actual (MT)

348,048

Expectations (MT)

100,000-400,000

Comments

Export inspections declined 85,129 MT from the previous week’s figure. Shipments are running 20.6% behind year-ago, which compares to 20.0% behind last week. USDA projects exports in 2021-22 at 810 million bu., down 18.9% from the previous marketing year.

Soybeans

Actual (MT)

784,187

Expectations (MT)

250,000-800,000

Comments

Export inspections rose 279,746 MT from last week’s tally. Inspections are running 13.8% behind year-ago, compared to 14.7% last week. USDA’s 2021-22 export forecast of 2.140 billion bu. is 5.4% below 2020-21.