Inspections Slide Week-over-week

Posted on Mon, 02/22/2021 - 10:06

The amount of corn, soybeans and wheat inspected for export the week ending Feb. 18 declined from the week prior, but tallies were still well within the range of pre-report expectations. In fact, corn and soybean inspections were near the upper end of expectations and up notably from year-ago.

 

USDA’s Weekly Grain Export Inspections

Week Ended Feb. 18, 2021

Corn

Actual (MT)

1,231,810

Expectations (MT)

500,000-1,400,000

Comments

Inspections fell 83,150 MT from last week’s tally. Inspections are running 80.3% ahead of year-ago, which compares to 83.9% ahead of last year the week before. USDA's 2020-21 export forecast of 2.6 billion bu. is 46.2% above the year prior.

Wheat

Actual (MT)

324,597

Expectations (MT)

300,000-550,000

Comments

Export inspections slipped 94,219 MT from last week’s tally that was revised nearly 26,300 MT higher. Shipments are running 2.2% behind year-ago versus 1.8% behind the week before. USDA projects exports in 2020-21 at 985 million bu., up 2.1% from the previous marketing year.

Soybeans

Actual (MT)

721,845

Expectations (MT)

300,000-950,000

Comments

Export inspections tumbled 200,336 MT from last week’s tally, which was revised 112,607 MT higher from what was initially reported. Inspections for 2020-21 are 76.6% ahead of year-ago, which compares to 77.2% ahead the week prior. USDA forecasts exports in 2020-21 at 2.25 billion bu., up 33.8% from 2019-20.