No Surprises from Today's Export Inspections Report

Posted on 08/26/2019 10:45 AM

USDA’s Weekly Grain Export Inspections

Week Ended Aug. 22, 2019

Corn

Actual (MT)

639,154

Expectations (MT)

500,000-800,000

Comments

Inspections climbed nearly 129,000 MT from the week prior and shipments were within expectations. Commitments are now 17.0% behind year-ago versus 16.3% behind year-ago last week. USDA's 2018-19 export forecast of 2.100 billion bu. is down 13.9% from the previous marketing year.

Wheat

Actual (MT)

492,998

Expectations (MT)

400,000-600,000

Comments

Export inspections fell 71,634 MT from last week and inspections were about as expected. Inspections are running 23.9% ahead of year-ago compared with 25.1% ahead of year-ago last week. USDA projects exports in 2019-20 at 975 million bu., up 4.2% from the previous marketing year.

Soybeans

Actual (MT)

961,964

Expectations (MT)

700,000-1,110,000

Comments

Export inspections fell nearly 197,000 MT from week-ago levels and inspections were in line with expectations. Inspections for 2018-19 are running 19.9% behind year-ago, compared with 20.4% behind last week. USDA projects exports in 2018-19 at 1.700 billion bu., down 20.3% from year-ago.

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