Corn inspections were also solid, with last week’s tally revised roughly 66,500 MT higher. Export inspections of soybeans were light, as expected.
USDA’s Weekly Grain Export Inspections Week Ended June 17, 2021 | |
Corn | |
Actual (MT) | 1,481,426 |
Expectations (MT) | 1,200,000-1,625,000 |
Comments | Inspections fell nearly 130,000 MT from last week’s tally, which was revised 66,502 MT higher. Inspections are running 72.9% ahead of year-ago, which compares to 75.2% ahead of last year the week before. USDA’s 2020-21 export forecast of 2.850 billion bu. is 60.3% above the year prior. |
Wheat | |
Actual (MT) | 548,578 |
Expectations (MT) | 300,000-525,000 |
Comments | Export inspections climbed 48,804 MT from last week’s tally, which was revised 19,433 MT higher from what was initially reported. Early in the 2021-22 marketing year, shipments are running 16.3% behind year-ago vs. 15.8% behind year-ago last week. USDA projects exports in 2021-22 at 900 million bu., 8.6% below 2020-21. |
Soybeans | |
Actual (MT) | 175,359 |
Expectations (MT) | 100,000-300,000 |
Comments | Export inspections climbed 45,823 MT from last week’s light tally. Inspections for 2020-21 are 56.2% ahead of year-ago, which compares to 56.8% ahead the week prior. USDA forecasts exports in 2020-21 at 2.280 billion bu., up 35.6% from 2019-20. |