Solid Corn and Wheat Export Inspections

Posted on Mon, 04/13/2020 - 10:15

But soybean inspections were again lackluster, though the tally was within expectations and an improvement from the week prior.

 

USDA’s Weekly Grain Export Inspections

Week Ended April 9, 2020

Corn

Actual (MT)

1,029,886

Expectations (MT)

800,000-1,200,000

Comments

Inspections fell nearly 249,500 MT from last week’s strong tally, with inspections aligning with expectations. Commitments for 2019-20 are 36.2% behind last year at this point, which compares to 37.1% behind last year’s pace last week. USDA's 2019-20 export forecast of 1.725 billion bu. is 16.5% below the year prior.

Wheat

Actual (MT)

608,709

Expectations (MT)

300,000-500,000

Comments

Export inspections pushed 258,519 MT higher versus the week prior and inspections topped expectations. Shipments are running 7.6% ahead of year-ago compared with 7.2% ahead of last year’s pace a week earlier. USDA projects exports in 2019-20 at 985 million bu., up 5.2% from the previous marketing year.

Soybeans

Actual (MT)

442,024

Expectations (MT)

300,000-500,000

Comments

Export inspections rose 141,109 MT from last week and were in line with lackluster expectations. Inspections for 2019-20 are running 5.5% ahead of year-ago, which compares to 5.7% ahead last week. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.5% from 2018-19.