Strong Wheat Inspections, Light Bean Shipments

Posted on 05/13/2019 10:39 AM

USDA’s Weekly Grain Export Inspections

Week Ended May 9, 2019

Corn

Actual (MT)

1,000,762

Expectations (MT)

850,000-1,100,000

Comments

Inspections fell 876,080 MT from the week prior and shipments were near the upper end of traders’ expectations. Inspections are running 5.3% ahead of year-ago, versus 7.3% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.300 billion bu. is down 5.7% from the previous marketing year.

Wheat

Actual (MT)

842,418

Expectations (MT)

400,000-600,000

Comments

Export inspections surged nearly 305,000 MT from last week and inspections were stronger than expected. Inspections are running 0.4% ahead of the 2017-18 marketing year, versus 1.6% behind last week. USDA projects exports in 2018-19 at 925 million bu., up 2.7% from the previous marketing year.

Soybeans

Actual (MT)

513,375

Expectations (MT)

450,000-700,000

Comments

Export inspections fell nearly 90,000 MT from last week and inspections were near the lower end of what traders expected. Inspections for 2018-19 are running 27.0% behind year-ago, compared with 27.0% behind last week. USDA projects exports in 2018-19 at 1.775 billion bu., down 16.6% from year-ago.

 

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