While shipment tallies improved notably as more export facilities reopened at the Gulf, the amount of corn and especially soybeans inspected for export was still down from year-ago levels. Wheat inspections were just a bit lighter than year-ago. Grain inspections were stronger than expected, while soybean inspections were near the upper end of pre-report expectations.
USDA also made some significant upside revisions to inspections for the week ended Sept. 23. Corn inspections were revised roughly 118,500 MT higher to 636,037 MT. Last week’s soybean inspections tally was also raised nearly 45,000 MT to 485,469 MT. Its wheat inspections tally was also hiked roughly 97,500 MT from what was initially reported to 383,584 MT.
USDA’s Weekly Grain Export Inspections Week Ended Sept. 30, 2021 | |
Corn | |
Actual (MT) | 808,814 |
Expectations (MT) | 375,000-700,000 |
Comments | Inspections climbed nearly 173,000 MT from last week’s tally, which was revised nearly 118,500 MT higher. Early in the 2021-22 marketing year, inspections are running 44.6% behind year-ago, which compares to 59.6% behind year-ago last week. USDA’s 2021-22 export forecast of 2.475 billion bu. is 9.8% below 2020-21. |
Wheat | |
Actual (MT) | 611,621 |
Expectations (MT) | 250,000-500,000 |
Comments | Export inspections climbed nearly 230,000 MT from last week’s tally, which was revised nearly 230,000 MT higher. So far this marketing year, shipments are running 12.3% behind year-ago vs. 13.5% behind year-ago last week. USDA projects exports in 2021-22 at 875 million bu., 11.8% below 2020-21. |
Soybeans | |
Actual (MT) | 844,488 |
Expectations (MT) | 400,000-900,000 |
Comments | Export inspections jumped nearly 360,000 MT from last week’s tally, which was revised nearly 45,000 MT higher. Early in the 2021-22 marketing year, inspections are running 74.2% behind year-ago, which compares to 81.2% behind year-ago the week prior. USDA’s 2021-22 export forecast of 2.090 billion bu. is 7.5% below 2020-21. |