Weekly corn inspections surpass pre-report expectations

USDA Weekly Export Inspections Report
USDA Weekly Export Inspections Report
(Chip Flory)

 

USDA’s Weekly Grain Export Inspections

                                              Week Ended Feb. 22, 2024              

Corn

Actual (MT)

1,241,692

Expectations (MT)

550,000-1,150,000

Comments

Export inspections are up 189,447 MT from last week’s tally. Inspections are running 35.5% ahead of a year ago, compared to 32.0% ahead last week. USDA projects exports in 2023-24 at 2.100 billion bu., 26.4% above the previous marketing year.

Wheat

Actual (MT)

481,999

Expectations (MT)

250,000-525,000

Comments

Export inspections are up 62,221 MT from the previous week’s figure. Shipments are running 17.6% behind a year-ago, compared to 17.5% behind last week. USDA projects exports in 2023-24 at 725 million bu., down 4.5% from the previous marketing year.

Soybeans

Actual (MT)

974,977

Expectations (MT)

600,000-1,300,000

Comments

Export inspections are down 316,435 MT from last week’s tally. Inspections are running 21.6% behind a year ago, compared to 22.8% behind last week. USDA’s 2023-24 export forecast of 1.720 billion bu., which is 13.7% below 2022-23.

 

 

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