Corn, wheat export inspections increase over previous week, while soybeans lag

USDA’s weekly export inspections proved steady for corn, soybeans and wheat for week ended August 18. Corn and wheat inspections were notably higher over the previous week, while soybeans fell behind.

Export ship
Export ship

USDA’s Weekly Grain Export Inspections

Week Ended Aug. 18, 2022

Corn

Actual (MT)

740,508

Expectations (MT)

450,000-850,000

Comments

Export inspections increased 201,172 MT from last week’s tally. Inspections are running 17.8% behind year-ago, which compares to 18.0% behind last week. USDA projects exports in 2021-22 at 2.450 billion bu., 11.0% below the previous marketing year.

Wheat

Actual (MT)

594,273

Expectations (MT)

250,000-650,000

Comments

Export inspections increased 204,359 MT from the previous week’s figure. Shipments are running 22.1% behind year-ago, compared with 23.0% behind year-ago last week. USDA projects exports in 2022-23 at 825 million bu., up 3.1% from the previous marketing year.

Soybeans

Actual (MT)

686,583

Expectations (MT)

400,000-875,000

Comments

Export inspections are down 81,745 MT from last week’s tally. Inspections are running 5.2% behind year-ago, compared to 6.0% last week. USDA’s 2021-22 export forecast of 2.160 billion bu. is 4.7% below 2020-21.