Soybean export inspections continue to prove notable

Export inspections for week ended Nov. 17 revealed soybeans and wheat near top-end expectations, while corn landed mid-range.

Exports by Canva
Exports by Canva
(Farm Journal)

USDA’s Weekly Grain Export Inspections

Week Ended Nov. 17, 2022

Corn

Actual (MT)

495,395

Expectations (MT)

235,000-700,000

Comments

Export inspections are down 40,021 MT from last week’s tally. Inspections are running 30% behind a year-ago, compared to 29.5% behind last week. USDA projects exports in 2022-23 at 2.150 billion bu., 13% below the previous marketing year.

Wheat

Actual (MT)

279,904

Expectations (MT)

75,000-300,000

Comments

Export inspections are up 109,480 MT from the previous week’s figure. Shipments are running 2.2% behind a year-ago, compared with 4.0% 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)

2,329,082

Expectations (MT)

1,000,000-2,500,000

Comments

Export inspections are up 364,901 MT from last week’s tally. Inspections are running 10.5% behind a year ago, compared to 11.6% behind last week. USDA’s 2022-23 export forecast of 2.045 billion bu. is 5.2% below 2021-22.