Soybean Inspections Top Expectations

Posted on Mon, 01/13/2020 - 10:13

The amount of corn and wheat inspected for export fell within the range of pre-report estimates, but the overall tallies were far from impressive.

USDA’s Weekly Grain Export Inspections

Week Ended Jan. 9, 2020

Corn

Actual (MT)

460,307

Expectations (MT)

450,000-650,000

Comments

Inspections climbed slipped 90,623 MT from the week prior and shipments were near the lower end of expectations. Commitments for 2019-20 are 53.5% behind last year at this point, which compares to 53.4% behind last year’s pace last week. USDA's 2019-20 export forecast of 1.775 billion bu. is 14.0% below the year prior.

Wheat

Actual (MT)

473,960

Expectations (MT)

300,000-500,000

Comments

Export inspections edged 53,307 MT higher from last week’s tally, and shipments were near the upper end of expectations. They are running 14.1% ahead of year-ago compared with 14.7% ahead of year-ago pace a week earlier. USDA projects exports in 2019-20 at 975 million bu., up 4.2% from the previous marketing year.

Soybeans

Actual (MT)

1,136,304

Expectations (MT)

500,000-1,100,000

Comments

Export inspections rose 97,290 MT from week-ago levels and were a bit stronger than expected. Inspections for 2019-20 are running 25.6% ahead of year-ago early in the marketing year, which compares to 24.7% ahead last week. USDA forecasts exports in 2019-20 at 1.775 billion bu., up 1.5% from 2018-19.