Corn, wheat export inspections in line with expectations

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USDA’s Weekly Grain Export Inspections

Week Ended July 7, 2022

Corn

Actual (MT)

933,725

Expectations (MT)

725,000-1,100,000

Comments

Export inspections increased 57,3391 MT from last week’s tally. Inspections are running 17.0% behind year-ago, which compares to 17.5% behind last week. USDA projects exports in 2021-22 at 2.450 billion bu., 11.0% below the previous marketing year.

Wheat

Actual (MT)

309,802

Expectations (MT)

250,000-450,000

Comments

Export inspections are up 36,862 from the previous week’s figure. Shipments are running 17.8% behind year-ago, compared with 23.9% behind year-ago last week. USDA projects exports in 2022-23 at 775 million bu., down 3.7% from the previous marketing year.

Soybeans

Actual (MT)

356,716

Expectations (MT)

375,000-575,000

Comments

Export inspections declined 80,602 MT from last week’s tally. Inspections are running 9.7% behind year-ago, compared to 10.2% last week. USDA’s 2021-22 export forecast of 2.170 billion bu. is 4.0% below 2020-21.

 

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