Export inspections within estimated ranges, but down from previous week’s figures

Export Inspections for week ended August 11, 2022 were within trade expectations, but well below last week’s figures. Corn, Soybeans, and wheat continue to fall behind year-ago levels.

Export ship
Export ship

USDA’s Weekly Grain Export Inspections

Week Ended Aug. 11, 2022

Corn

Actual (MT)

538,406

Expectations (MT)

475,000-800,000

Comments

Export inspections are 17,214 MT behind last week’s tally. Inspections are running 18.0% 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)

373,227

Expectations (MT)

250,000-675,000

Comments

Export inspections are running 262,043 MT behind from the previous week’s figure. Shipments are running 23.0% behind year-ago, compared with 21.2% 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)

744,571

Expectations (MT)

300,000-850,000

Comments

Export inspections are 126,774 MT behind from last week’s tally. Inspections are running 6.0% behind year-ago, compared to 6.8% last week. USDA’s 2021-22 export forecast of 2.160 billion bu. is 4.7% below 2020-21.