Weekly wheat inspections top expectations

USDA’s Weekly Grain Export Inspections

                                               Week Ended Dec. 1, 2022           

Corn

Actual (MT)

524,313

Expectations (MT)

300,000-750,000

Comments

Export inspections are up 212,655 MT from last week’s tally. Inspections are running 32.7% behind a year-ago, compared to 32.7% behind last week. USDA projects exports in 2022-23 at 2.150 billion bu., 13% below the previous marketing year.

Wheat

Actual (MT)

334,653

Expectations (MT)

175,000-300,000

Comments

Export inspections are up 50,177 MT from the previous week’s figure. Shipments are running 2.2% behind a year-ago, compared with 3.8% behind a year-ago last week. USDA projects exports in 2022-23 at 775 million bu., down 3.1% from the previous marketing year.

Soybeans

Actual (MT)

1,721,828

Expectations (MT)

1,100,000-2,400,000

Comments

Export inspections are down 505,120 MT from last week’s tally. Inspections are running 10.9% behind a year ago, compared to 10.0% behind last week. USDA’s 2022-23 export forecast of 2.045 billion bu. is 5.2% below 2021-22.