Welcome Uptick in Soybean Inspections

Posted on 06/10/2019 10:12 AM

USDA’s Weekly Grain Export Inspections

Week Ended June 6, 2019

Corn

Actual (MT)

850,647

Expectations (MT)

500,000-900,000

Comments

Inspections dropped climbed nearly 106,000 MT from the week prior and shipments were at the upper end of expectations. But the pace of shipments dipped farther behind year-ago. Commitments are now 2.0% behind year-ago versus 0.6% behind 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)

464,779

Expectations (MT)

400,000-625,000

Comments

Export inspections slipped 128,185 MT from last week and inspections were near the lower end of expectations. Inspections are running 4.6% behind year-ago at the start of the 2019-20 marketing year.  USDA projects exports in 2018-19 at 900 million bu., down 2.7% from the previous marketing year.

Soybeans

Actual (MT)

714,627

Expectations (MT)

450,000-650,000

Comments

Export inspections climbed 204,145 MT from last week and inspections were stronger than traders expected. Inspections for 2018-19 are running 26.4% behind year-ago, compared with 26.9% behind last week. USDA projects exports in 2018-19 at 1.775 billion bu., down 16.6% from year-ago.

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