Solid weekly corn inspections at nearly 900,000 MT

USDA reported weekly export inspections for week ended March 2, which showed corn inspections notably above pre-report expectations, while wheat and soybean inspections each missed the low-end pre-report range.

USDA Weekly Export Sales Report
USDA Weekly Export Sales Report
(Pro Farmer)

USDA’s Weekly Grain Export Inspections

Week Ended March 2, 2023

Corn

Actual (MT)

899,810

Expectations (MT)

450,000-750,000

Comments

Export inspections are up 250,507 MT from last week’s tally. Inspections are running 38.3% behind a year-ago, compared to 38.3% behind last week. USDA projects exports in 2022-23 at 1.925 billion bu., 22.0% below the previous marketing year.

Wheat

Actual (MT)

268,136

Expectations (MT)

300,000-600,000

Comments

Export inspections are down 385,147 MT from the previous week’s figure. Shipments are running 2.1% behind a year-ago, compared with 1.7% behind a year-ago last week. USDA projects exports in 2022-23 at 775 million bu., down 3.1% from the previous marketing year.

Soybeans

Actual (MT)

542,238

Expectations (MT)

625,000-1,300,000

Comments

Export inspections are down 222,977 MT from last week’s tally. Inspections are running 2.9% ahead of a year ago, compared to 3.4% ahead last week. USDA’s 2022-23 export forecast of 1.990 billion bu. is 8.0% below 2021-22.