Strong wheat export inspections
USDA also revised last week’s tally a substantial, 120,000 MT higher. Shipments of corn and soybeans were in line with expectations.
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USDA’s Weekly Grain Export Inspections Week Ended Aug. 19, 2021 |
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Corn |
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Actual (MT) |
724,784 |
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Expectations (MT) |
500,000-950,000 |
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Comments |
Inspections fell roughly 57,000 MT from last week’s tally, which was revised roughly 26,600 MT higher from what was initially reported. Inspections are running 57.0% ahead of year-ago, which compares to 58.6% ahead of last year the week before. USDA's 2020-21 export forecast of 2.775 billion bu. is 56.2% above the year prior. |
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Wheat |
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Actual (MT) |
657,854 |
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Expectations (MT) |
300,000-575,000 |
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Comments |
Export inspections climbed 97,214 MT last week’s tally, which was revised nearly 120,100 MT higher. So far this marketing year, shipments are running 9.1% behind year-ago vs. 14.9% behind year-ago last week. USDA projects exports in 2021-22 at 875 million bu., 11.8% below 2020-21. |
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Soybeans |
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Actual (MT) |
214,061 |
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Expectations (MT) |
100,000-350,000 |
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Comments |
Export inspections fell 63,625 MT from last week. Inspections for 2020-21 are 38.8% ahead of year-ago, which compares to 42.4% ahead the week prior. USDA forecasts exports in 2020-21 at 2.260 billion bu., up 34.6% from 2019-20. |
