Soybean export inspections prove low-range

USDA’s Weekly Grain Export Inspections

                                              Week Ended Dec. 15, 2022

Corn

Actual (MT)

743,420

Expectations (MT)

450,000-900,000

Comments

Export inspections are up 226,003 MT from last week’s tally. Inspections are running 30.4% behind a year-ago, compared to 30.9% behind last week. USDA projects exports in 2022-23 at 2.075 billion bu., 16% below the previous marketing year.

Wheat

Actual (MT)

304,108

Expectations (MT)

200,000-600,000

Comments

Export inspections are up 84,750 MT from the previous week’s figure. Shipments are running 1.8% behind a year-ago, compared with 2.5% 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)

1,619,850

Expectations (MT)

1,500,000-2,120,000

Comments

Export inspections are down 258,428 MT from last week’s tally. Inspections are running 8.7% behind a year ago, compared to 8.4% behind last week. USDA’s 2022-23 export forecast of 2.045 billion bu. is 5.2% below 2021-22.