Soybeans below export inspection expectations

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USDA’s Weekly Grain Export Inspections

Week Ended Jan. 6, 2022

Corn

Actual (MT)

1,022,677

Expectations (MT)

600,000-1,250,000

Comments

Inspections increased 263,114 MT from last week’s figure, which was increased 163,471 MT. Inspections are running 15.0% behind year-ago, which compares to 15.3% behind last week. USDA's 2021-22 export forecast of 2.500 billion bu. is 9.2% below 2020-21.

Wheat

Actual (MT)

233,159

Expectations (MT)

175,000-400,000

Comments

Export inspections increased 2,798 MT from the previous week’s figure, which was increased 88,545 MT.  Shipments are running 18.7% behind year-ago, which compares to 19.5% behind last week. USDA projects exports in 2021-22 at 840 million bu., 15.3% below 2020-21.

Soybeans

Actual (MT)

905,149

Expectations (MT)

950,000-1,500,000

Comments

Export inspections declined 709,009 MT from last week’s tally, which was increased 422,419 MT. Inspections remain running 23.1% behind year-ago, compared to 22.7% last week. USDA’s 2021-22 export forecast of 2.050 billion bu. is 9.5% below 2020-21.

 

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