Soybean inspections decline versus the previous week's big upward revision

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USDA’s Weekly Grain Export Inspections

Week Ended Nov. 25, 2021

Corn

Actual (MT)

766,063

Expectations (MT)

575,000-1,200,000

Comments

Inspections increased 59,587 MT from last week’s tally, which was revised up 207,160 MT from the initial figure. Inspections are running 17.0% behind year-ago, which compares to 18.2% behind year-ago last week. USDA's 2021-22 export forecast of 2.500 billion bu. is 9.2% below 2020-21.

Wheat

Actual (MT)

250,651

Expectations (MT)

175,000-400,000

Comments

Export inspections increased 57,829 MT from the previous week’s light tally. Shipments are running 16.9% behind year-ago, which compares to 15.5% behind last week. USDA projects exports in 2021-22 at 860 million bu., 13.3% below 2020-21.

Soybeans

Actual (MT)

2,142,844

Expectations (MT)

1,000,000-2,000,000

Comments

Export inspections declined 289,051 MT from last week’s tally, which was revised up 747,757 MT from the initial figure. Inspections are running 22.5% behind year-ago, which compares to 26.9% behind year-ago the week prior. USDA’s 2021-22 export forecast of 2.050 billion bu. is 9.5% below 2020-21.

 

 

 

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