Soybean export inspections remain steady at nearly 2.6 MMT

Weekly export inspections for week ended Oct. 27 were delayed this morning due to technical issues, but revealed figures for corn, soybeans, and wheat all within expected ranges with soybeans near the top end.

Export ship
Export ship

USDA’s Weekly Grain Export Inspections

Week Ended Oct. 27, 2022

Corn

Actual (MT)

422,288

Expectations (MT)

225,000-650,000

Comments

Export inspections are down 50,306 MT from last week’s tally. Inspections are running 23.4% behind a year-ago, compared to 21.6% behind last week. USDA projects exports in 2022-23 at 2.150 billion bu., 13% below the previous marketing year.

Wheat

Actual (MT)

137,082

Expectations (MT)

100,000-500,000

Comments

Export inspections are 3,763 MT higher than the previous week’s figure. Shipments are running 0.2% behind a year-ago, compared with 0.5% 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)

2,574,060

Expectations (MT)

1,200,000-2,650,000

Comments

Export inspections are down 344,645 MT from last week’s tally. Inspections are running 9.5% behind a year ago, compared to 11.7% behind last week. USDA’s 2022-23 export forecast of 2.045 billion bu. is 5.2% below 2021-22.