USDA made some notable upside revisions to last week’s inspections number for corn and wheat.
USDA’s Weekly Grain Export Inspections Week Ended Aug. 12, 2021 | |
Corn | |
Actual (MT) | 754,929 |
Expectations (MT) | 600,000-1,000,000 |
Comments | Inspections edged up nearly 10,000 MT from last week’s tally, which was revised 77,714 MT higher from what was initially reported. Inspections are running 58.6% ahead of year-ago, which compares to 61.0% ahead of last year the week before. USDA’s 2020-21 export forecast of 2.775 billion bu. is 56.2% above the year prior. |
Wheat | |
Actual (MT) | 440,567 |
Expectations (MT) | 300,000-625,000 |
Comments | Export inspections fell 213,402 MT from last week’s tally, which was revised nearly 48,200 MT higher. So far this marketing year, shipments are running 14.9% behind year-ago vs. 14.9% behind year-ago last week. USDA projects exports in 2021-22 at 875 million bu., 11.8% below 2020-21. |
Soybeans | |
Actual (MT) | 277,637 |
Expectations (MT) | 75,000-300,000 |
Comments | Export inspections climbed nearly 163,000 MT from last week. Inspections for 2020-21 are 42.4% ahead of year-ago, which compares to 45.0% ahead the week prior. USDA forecasts exports in 2020-21 at 2.260 billion bu., up 34.6% from 2019-20. |