Soybean and wheat inspections top trade expectations

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USDA’s Weekly Grain Export Inspections

Week Ended Aug. 4, 2022

Corn

Actual (MT)

555,620

Expectations (MT)

700,000-1,150,000

Comments

Export inspections declined 349,673 MT from last week’s tally. Inspections are running 18.0% behind year-ago, which compares to 17.7% behind last week. USDA projects exports in 2021-22 at 2.450 billion bu., 11.0% below the previous marketing year.

Wheat

Actual (MT)

603,549

Expectations (MT)

250,000-550,000

Comments

Export inspections increased 295,216 MT from the previous week’s figure. Shipments are running 21.2% behind year-ago, compared with 24.9% behind year-ago last week. USDA projects exports in 2022-23 at 775 million bu., down 3.7% from the previous marketing year.

Soybeans

Actual (MT)

867,504

Expectations (MT)

300,000-750,000

Comments

Export inspections increased 272,546 MT from last week’s tally. Inspections are running 6.8% behind year-ago, compared to 8.2% last week. USDA’s 2021-22 export forecast of 2.170 billion bu. is 4.0% below 2020-21.

 

 

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