Corn, soybean export inspections as expected

Export Inspections for week ended July 14, were within the range of estimates for corn and soybeans, while wheat fell shy of what was expected.

Export ship
Export ship

USDA’s Weekly Grain Export Inspections

Week Ended July 14, 2022

Corn

Actual (MT)

1,073,972

Expectations (MT)

700,000-1,150,000

Comments

Export inspections up 139,439 MT from last week’s tally. Inspections are running 16.7% behind year-ago, which compares to 17% behind last week. USDA projects exports in 2021-22 at 2.450 billion bu., 11.0% below the previous marketing year.

Wheat

Actual (MT)

185,989

Expectations (MT)

250,000-525,000

Comments

Export inspections down 124,013 MT from the previous week’s figure. Shipments are running 26.6% behind year-ago, compared with 18% behind year-ago last week. USDA projects exports in 2022-23 at 775 million bu., down 3.7% from the previous marketing year.

Soybeans

Actual (MT)

362,622

Expectations (MT)

100,000-575,000

Comments

Export inspections are up 4,095 MT from last week’s tally. Inspections are running 9.3% behind year-ago, compared to 10% last week. USDA’s 2021-22 export forecast of 2.170 billion bu. is 4.0% below 2020-21.