Weekly corn inspections outpace year-ago

Weekly new-crop corn inspections have kicked the marketing year off ahead of last year at this time by over 4%, while soybean inspections lagged by over 21% in week ended Sept. 7.

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

USDA’s Weekly Grain Export Inspections

Week Ended Sept. 7, 2023

Corn

Actual (MT)

623,862

Expectations (MT)

375,000-750,000

Comments

Export inspections are up 141,073 MT from last week’s tally. Inspections are running 4.3% ahead of a year-ago. USDA projects exports in 2023-24 at 2.050 billion bu., 26.0% above the previous marketing year.

Wheat

Actual (MT)

406,181

Expectations (MT)

225,000-450,000

Comments

Export inspections are up 88,105 MT from the previous week’s figure. Shipments are running 26.0% behind a year-ago. USDA projects exports in 2023-24 at 700 million bu., down 8.0% from the previous marketing year.

Soybeans

Actual (MT)

310,073

Expectations (MT)

300,000-725,000

Comments

Export inspections are down 96,861 MT from last week’s tally. Inspections are running 21.3% behind a year ago. USDA’s 2023-24 export forecast of 1.825 billion bu., which is 8.0% below 2023-22.