Weekly wheat inspections continue to lag
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USDA’s Weekly Grain Export Inspections Week Ended Oct. 19, 2023 |
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Corn |
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Actual (MT) |
437,549 |
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Expectations (MT) |
350,000-650,000 |
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Comments |
Export inspections are down 29,055 MT from last week’s tally. Inspections are running 16.7% ahead of a year ago, compared to 19.2% ahead last week. USDA projects exports in 2023-24 at 2.025 billion bu., 21.9% above the previous marketing year. |
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Wheat |
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Actual (MT) |
168,868 |
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Expectations (MT) |
275,000-500,000 |
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Comments |
Export inspections are down 187,174 MT from the previous week’s figure. Shipments are running 27.2% behind a year-ago, compared to 28.0% last week. USDA projects exports in 2023-24 at 700 million bu., down 7.8% from the previous marketing year. |
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Soybeans |
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Actual (MT) |
2,458,955 |
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Expectations (MT) |
1,500,000-2,500,000 |
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Comments |
Export inspections are up 419,446 MT from last week’s tally. Inspections are running 3.3% ahead of a year ago, compared to 14.5% ahead last week. USDA’s 2023-24 export forecast of 1.755 billion bu., which is 11.9% below 2023-22. |
