Bean Inspections Strong, Corn Inspections Weak

Posted on 09/23/2019 10:43 AM

USDA’s Weekly Grain Export Inspections

Week Ended Sept. 19, 2019

Corn

Actual (MT)

233,993

Expectations (MT)

400,000-700,000

Comments

Inspections fell 189,136 MT from the week prior and shipments were well under trade forecasts. Commitments for the new season that began Sept. 1 are 63.3% behind last year at this point which compares to 48.2% behind last year’s start last week. USDA's 2019-20 export forecast of 2.050 billion bu. is 0.4% below the year prior.

Wheat

Actual (MT)

476,173

Expectations (MT)

300,000-600,000

Comments

Export inspections fell 41,377 MT from the prior week and inspections were within trade expectations. Inspections are running 22.3% ahead of year-ago compared with 22.1% ahead of year-ago pace a week earlier. USDA projects exports in 2019-20 at 975 million bu., up 4.2% from the previous marketing year.

Soybeans

Actual (MT)

922,550

Expectations (MT)

600,000-900,000

Comments

Export inspections climbed 254,054 MT from week-ago levels and inspections were a bit stronger than expected. Inspections for 2019-20 are 7.5% behind year-ago early in the marketing year, which compares to 23.5% behind last week. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.7% from 2018-19.

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