But expectations for soybean inspections were pretty limited and the tally was less than half of year-ago levels. A dramatic uptick in bean shipments is needed soon.
|
USDA’s Weekly Grain Export Inspections Week Ended June 25, 2020 |
|
|
Corn |
|
|
Actual (MT) |
1,234,690 |
|
Expectations (MT) |
1,000,000-1,300,000 |
|
Comments |
Inspections slipped 61,155 MT from last week, and inspections were in line with expectations. Commitments for 2019-20 are 22.9% behind last year at this point, which compares to 22.9% behind last week. USDA's 2019-20 export forecast of 1.775 billion bu. is 14.0% below the year prior. |
|
Wheat |
|
|
Actual (MT) |
515,359 |
|
Expectations (MT) |
450,000-650,000 |
|
Comments |
Export inspections fell 170,677 MT from last week’s solid tally and shipments were in line with expectations. Shipments are 0.8% ahead of year-ago early in the season versus 9.7% ahead of year-ago the week prior. USDA projects exports in 2020-21 at 950 million bu., down 1.6% from the previous marketing year. |
|
Soybeans |
|
|
Actual (MT) |
324,512 |
|
Expectations (MT) |
275,000-550,000 |
|
Comments |
Export inspections climbed 68,702 MT from last week’s poor showing and the tally fell was within expectations. Inspections for 2019-20 are running 0.8% ahead of year-ago, which compares to 0.3% ahead last week. USDA forecasts exports in 2019-20 at 1.650 billion bu., down 5.6% from 2018-19. |
