Export inspections notch weekly decline

Soybean inspections during the week ended Oct. 31, led the decline, falling 469,793 MT, while wheat inspections fell 101,134 MT and missed pre-report expectations.

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USDA Weekly Export Inspections
(Chip Flory)


USDA’s Weekly Grain Export Inspections

Week Ended Oct. 31, 2024

Corn

Actual (MT)

779,078

Expectations (MT)

700,000-1,200,000

Comments

Export inspections fell 61,357 MT from last week’s tally. Inspections are running 33.7% ahead of a year ago, compared to 33.0% ahead last week. USDA projects exports in 2024-25 at 2.325 billion bu., 1.4% above the previous marketing year.

Wheat

Actual (MT)

193,523

Expectations (MT)

200,000-350,000

Comments

Export inspections fell 101,134 MT from the previous week’s figure. Shipments are running 34.7% ahead of year-ago, compared to 33.5% ahead last week. USDA projects exports in 2024-25 at 825 million bu., up 16.7% from the previous marketing year.

Soybeans

Actual (MT)

2,158,646

Expectations (MT)

1,800,000-2,650,000

Comments

Export inspections fell 469,793 MT from last week’s tally. Inspections are running 3.5% ahead a year ago, compared to 2.2% ahead of a year ago last week. USDA’s 2024-25 export forecast of 1.850 billion bu., up 9.1% from 2023-24.