Corn Inspections Hold Strong, Soybean Sales Quite Light

Posted on Mon, 05/03/2021 - 10:16

The amount of wheat inspected for export was right in line with expectations, but down slightly from the week prior and year-ago.  

USDA’s Weekly Grain Export Inspections

Week Ended April 29, 2021

Corn

Actual (MT)

2,139,077

Expectations (MT)

1,100,000-2,150,000

Comments

Inspections rose roughly 185,100 MT from last week’s tally. Inspections are running 82.4% ahead of year-ago, which compares to 83.9% ahead of last year the week before. USDA's 2020-21 export forecast of 2.675 billion bu. is 50.4% above the year prior.

Wheat

Actual (MT)

509,932

Expectations (MT)

400,000-600,000

Comments

Export inspections fell 71,155 MT from last week’s tally, which was revised 17,040 MT higher. Shipments are running 0.1% ahead of year-ago versus 0.4% ahead the week before. USDA projects exports in 2020-21 at 985 million bu., up 2.1% from the previous marketing year.

Soybeans

Actual (MT)

143,418 

Expectations (MT)

150,000-300,000

Comments

Export inspections fell 140,656 MT from last week’s tally, which was revised 50,163 MT higher. Inspections for 2020-21 are 64.2% ahead of year-ago, which compares to 65.5% ahead the week prior. USDA forecasts exports in 2020-21 at 2.280 billion bu., up 35.6% from 2019-20.