| USDA’s Weekly Grain Export Inspections Week Ended Aug. 1, 2024 | |
| Corn | |
| Actual (MT) | |
| Expectations (MT) | 700,000-1,200,000 |
| Comments | Export inspections are up 143,102 MT from last week’s tally. Inspections are running 36.0% ahead of a year ago, compared to 34.0% ahead last week. USDA projects exports in 2023-24 at 2.225 billion bu., 33.9% above the previous marketing year. |
| Wheat | |
| Actual (MT) | 440,888 |
| Expectations (MT) | 300,000-475,000 |
| Comments | Export inspections are down 13,904 MT from the previous week’s figure. Shipments are running 15.7% ahead of year-ago, compared to 11.2% ahead last week. USDA projects exports in 2024-25 at 825 million bu., up 16.7% from the previous marketing year. |
| Soybeans | |
| Actual (MT) | 261,203 |
| Expectations (MT) | 200,000-475,000 |
| Comments | Export inspections are down 147,379 MT from last week’s tally. Inspections are running 15.3% behind a year ago, compared to 15.3% behind last week. USDA’s 2023-24 export forecast of 1.700 billion bu., which is 14.1% below 2022-23. |
Weekly corn inspections prove solid
Weekly corn inspections during the week ended Aug. 1 totaled 1.2 MMT, up 143,000 MT from the previous week and topping analysts’ pre-report expectations.
(Chip Flory)