Weekly corn inspections top pre-report expectations
Corn inspections during the week ended May 29 rose 157,000 MT, topping the pre-report range. Soybean inspections also rose on the week, while wheat inspections declined modestly.
Export inspections rose 156,569 MT from the previous week’s tally. Inspections are running 28.5% ahead of a year ago, compared to 29.1% ahead last week. USDA projects exports in 2024-25 at 2.550 billion bu., 11.3% above the previous marketing year.
Wheat
Actual (MT)
552,910
Expectations (MT)
300,000-625,000
Comments
Export inspections fell 10,059 MT from the previous week’s figure. Shipments are running 16.6% ahead of year-ago, compared to 16.3% ahead last week. USDA projects exports in 2024-25 at 820 million bu., up 16.0% from the previous marketing year.
Soybeans
Actual (MT)
268,343
Expectations (MT)
75,000-450,000
Comments
Export inspections rose 68,321 MT from the previous week’s tally. Inspections are running 10.7% ahead of a year ago, compared to 11.0% ahead last week. USDA’s 2024-25 export forecast of 1.825 billion bu., up 7.7% from 2023-24.
