Weekly Corn, soybean inspections fade from previous week

USDA’s Weekly Grain Export Inspections

                                              Week Ended Jan. 18, 2023              

Corn

Actual (MT)

713,290

Expectations (MT)

650,000-1,050,000

Comments

Export inspections are down 233,127 MT from last week’s tally. Inspections are running 27.7% ahead of a year ago, compared to 29.1% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year.

Wheat

Actual (MT)

314,521

Expectations (MT)

250,000-550,000

Comments

Export inspections are up 72,112 MT from the previous week’s figure. Shipments are running 16.1% behind a year-ago, compared to 16.5% behind last week. USDA projects exports in 2023-24 at 725 million bu., down 4.5% from the previous marketing year.

Soybeans

Actual (MT)

1,161,100

Expectations (MT)

750,000-1,450,000

Comments

Export inspections are down 117,068 MT from last week’s tally. Inspections are running 21.9% behind a year ago, compared to 21.1% behind last week. USDA’s 2023-24 export forecast of 1.755 billion bu., which is 10.9% below 2022-23.