Tepid weekly export inspections

Corn, soybean wheat inspections each faded from the previous week, but were within the range of analysts’ pre-report expectations.

grain ship.jpg
grain ship.jpg
(Chip Flory)


USDA’s Weekly Grain Export Inspections

Week Ended Sept. 5, 2024

Corn

Actual (MT)

836,413

Expectations (MT)

600,000-1,250,000

Comments

Export inspections fell 129,931 MT from last week’s tally. Inspections are running 26.3% behind a year ago. USDA projects exports in 2024-25 at 2.300 billion bu., 2.2% above the previous marketing year.

Wheat

Actual (MT)

354,166

Expectations (MT)

300,000-650,000

Comments

Export inspections fell 16,003 MT from the previous week’s figure. Shipments are running 29.8% ahead of year-ago, compared to 31.9% ahead last week. USDA projects exports in 2024-25 at 825 million bu., up 16.7% from the previous marketing year.

Soybeans

Actual (MT)

586,687

Expectations (MT)

350,000-650,000

Comments

Export inspections fell 148,278 MT from last week’s tally. Inspections are running 29.8%. USDA’s 2024-25 export forecast of 1.700 billion bu., down 14.1% from 2022-23.