Weekly wheat export inspections impress
Corn inspections were more than halved compared with the week prior, with inspections coming up well short of expectations. Soybean inspections were also light and near the lower end of expectations.
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USDA’s Weekly Grain Export Inspections Week Ended Aug. 5, 2021 |
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Corn |
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Actual (MT) |
667,220 |
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Expectations (MT) |
900,000-1,250,000 |
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Comments |
Inspections plummeted 730,186 MT from last week’s tally, which was revised nearly 14,000 MT higher. Inspections are running 61.0% ahead of year-ago, which compares to 64.9% ahead of last year the week before. USDA's 2020-21 export forecast of 2.850 billion bu. is 60.4% above the year prior. |
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Wheat |
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Actual (MT) |
605,793 |
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Expectations (MT) |
350,000-525,000 |
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Comments |
Export inspections shot nearly 200,600 MT higher from last week’s tally, which was revised 17,500 MT higher. So far this marketing year, shipments are running 14.9% behind year-ago vs. 19.6% 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) |
114,253 |
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Expectations (MT) |
100,000-300,000 |
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Comments |
Export inspections fell 70,735 MT from last week. Inspections for 2020-21 are 45.0% ahead of year-ago, which compares to 47.8% ahead the week prior. USDA forecasts exports in 2020-21 at 2.270 billion bu., up 35.2% from 2019-20. |
