Weekly wheat inspections top pre-report estimates; soybeans fall short
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USDA’s Weekly Grain Export Inspections Week Ended Jan. 4, 2023 |
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Corn |
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Actual (MT) |
856,597 |
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Expectations (MT) |
500,000-975,000 |
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Comments |
Export inspections are up 286,740 MT from last week’s tally. Inspections are running 28.0% ahead of a year ago, compared to 24.5% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year. |
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Wheat |
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Actual (MT) |
491,074 |
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Expectations (MT) |
200,000-350,000 |
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Comments |
Export inspections are up 214,641 MT from the previous week’s figure. Shipments are running 16.3% behind a year-ago, compared to 19.0% behind last week. USDA projects exports in 2023-24 at 725 million bu., down 4.5% from the previous marketing year. |
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Soybeans |
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Actual (MT) |
674,749 |
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Expectations (MT) |
700,000-1,125,000 |
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Comments |
Export inspections are down 294,705 MT from last week’s tally. Inspections are running 20.8% behind a year ago, compared to 19.0% behind last week. USDA’s 2023-24 export forecast of 1.755 billion bu., which is 10.9% below 2022-23. |
