Bean, corn inspections up, wheat down

All three within expectations

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(Farm Journal)

USDA’s Weekly Grain Export Inspections

Week Ended March 3, 2022

Corn

Actual (MT)

1,582,167

Expectations (MT)

1,000,000-1,650,000

Comments

Export inspections increased 26,940 MT from last week’s figure, which was revised up 11,476 MT from the original figure. Inspections are running 11.3% behind year-ago, which compares to 11.6% behind last week. USDA projects exports in 2021-22 at 2.425 billion bu., 11.9% below the previous marketing year.

Wheat

Actual (MT)

343,463

Expectations (MT)

300,000-500,000

Comments

Export inspections dropped 86,521 MT from the previous week’s figure, which was increased 23,846 MT from the original figure. Shipments are running 15.1% behind year-ago, which compares to 14.7% behind last week. USDA projects exports in 2021-22 at 810 million bu., down 18.3% from the previous marketing year.

Soybeans

Actual (MT)

766,250

Expectations (MT)

400,000-1,475,000

Comments

Export inspections increased 27,984 MT from last week’s tally, which was increased 2,988 MT. Inspections are running 21.6% behind year-ago, compared to 22.1% last week. USDA’s 2021-22 export forecast of 2.050 billion bu. is 9.5% below 2020-21.