Inspections of corn and soybeans were in line with expectations the week ended July 1, though expectations for soybean shipments were admittedly light. Wheat inspections fell just short of expectations. Revisions to the previous week’s data were relatively modest.
USDA’s Weekly Grain Export Inspections Week Ended July 1, 2021 | |
Corn | |
Actual (MT) | 1,235,931 |
Expectations (MT) | 1,000,000-1,500,000 |
Comments | Inspections fell climbed 202,228 MT from last week’s tally, which was revised nearly 25,400 MT higher. Inspections are running 69.1% ahead of year-ago, which compares to 70.4% ahead of last year the week before. USDA’s 2020-21 export forecast of 2.850 billion bu. is 60.3% above the year prior. |
Wheat | |
Actual (MT) | 258,438 |
Expectations (MT) | 275,000-500,000 |
Comments | Export inspections dipped just over 30,000 MT from last week’s tally. Early in the 2021-22 marketing year, shipments are running 25.8% behind year-ago vs. 23.5% behind year-ago last week. USDA projects exports in 2021-22 at 900 million bu., 8.6% below 2020-21. |
Soybeans | |
Actual (MT) | 206,152 |
Expectations (MT) | 90,000-300,000 |
Comments | Export inspections climbed nearly 96,000 MT from last week. Inspections for 2020-21 are 53.7% ahead of year-ago, which compares to 55.3% ahead the week prior. USDA forecasts exports in 2020-21 at 2.280 billion bu., up 35.6% from 2019-20. |