Soybean inspections near the top of trade expectations

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USDA’s Weekly Grain Export Inspections

Week Ended May 12, 2022

Corn

Actual (MT)

1,036,549

Expectations (MT)

750,000-1,750,000

Comments

Export inspections declined 440,697 MT from last week’s tally. Inspections are running 17.4% behind year-ago, which compares to 16.2% behind last week. USDA projects exports in 2021-22 at 2.500 billion bu., 9.2% below the previous marketing year.

Wheat

Actual (MT)

348,048

Expectations (MT)

100,000-400,000

Comments

Export inspections declined 85,129 MT from the previous week’s figure. Shipments are running 20.6% behind year-ago, which compares to 20.0% behind last week. USDA projects exports in 2021-22 at 810 million bu., down 18.9% from the previous marketing year.

Soybeans

Actual (MT)

784,187

Expectations (MT)

250,000-800,000

Comments

Export inspections rose 279,746 MT from last week’s tally. Inspections are running 13.8% behind year-ago, compared to 14.7% last week. USDA’s 2021-22 export forecast of 2.140 billion bu. is 5.4% below 2020-21.

 

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