Weekly wheat and soybean inspections drop on the week; corn holds steady
|
USDA’s Weekly Grain Export Inspections Week Ended March 14, 2024 |
|
|
Corn |
|
|
Actual (MT) |
1,238,897 |
|
Expectations (MT) |
900,000-1,250,000 |
|
Comments |
Export inspections are up 72,668 MT from last week’s tally. Inspections are running 31.3% ahead of a year ago, compared to 33.3% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year. |
|
Wheat |
|
|
Actual (MT) |
302,302 |
|
Expectations (MT) |
300,000-500,000 |
|
Comments |
Export inspections are down 164,665 MT from the previous week’s figure. Shipments are running 15.6% behind a year-ago, compared to 15.9% behind last week. USDA projects exports in 2023-24 at 710 million bu., down 6.5% from the previous marketing year. |
|
Soybeans |
|
|
Actual (MT) |
686,181 |
|
Expectations (MT) |
300,000-1,150,000 |
|
Comments |
Export inspections are down 98,672 MT from last week’s tally. Inspections are running 18.8% behind a year ago, compared to 19.9% behind last week. USDA’s 2023-24 export forecast of 1.720 billion bu., which is 13.7% below 2022-23. |
