Weekly Grain, Soy Inspections as Expected

Posted on 12/09/2019 1:07 PM

USDA’s Weekly Grain Export Inspections

Week Ended Dec. 5, 2019

Corn

Actual (MT)

481,097

Expectations (MT)

400,000-600,000

Comments

Inspections increased 41,464 from the week prior and shipments were below expectations. Commitments for 2019-20 are 56.8% behind last year at this point, which compares to 57.6% behind last year’s pace last week. USDA's 2019-20 export forecast of 1.850 billion bu. is 10.4% below the year prior.

Wheat

Actual (MT)

313,810

Expectations (MT)

250,000-450,000

Comments

Export inspections slipped 21,094 MT from last week’s tally and were below expectations. They are running 18.0% ahead of year-ago compared with 19.2% ahead of year-ago pace a week earlier. USDA projects exports in 2019-20 at 950 million bu., up 1.5% from the previous marketing year.

Soybeans

Actual (MT)

1,327,042

Expectations (MT)

800,000-1,600,000

Comments

Export inspections dropped 248,707 MT from week-ago levels and were within the range of pre-report estimates. Inspections for 2019-20 are running 21.9% ahead of year-ago early in the marketing year, which compares to 20.2% ahead last week. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.5% from 2018-19.

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