Weekly soybean inspections remain solid at over 1.8 MMT

USDA’s weekly export inspections data for week ended Jan. 19 showed corn and wheat inspections toward their lower expected ranges, while soybeans landed near top-end expectations of 1.955 MMT.

Exports by Canva
Exports by Canva
(Farm Journal)

USDA’s Weekly Grain Export Inspections

Week Ended Jan. 19, 2022

Corn

Actual (MT)

727,643

Expectations (MT)

550,000-1,025,000

Comments

Export inspections are down 52,145 MT from last week’s tally. Inspections are running 30.3% behind a year-ago, compared to 29.7% behind last week. USDA projects exports in 2022-23 at 1.925 billion bu., 22.0% below the previous marketing year.

Wheat

Actual (MT)

334,217

Expectations (MT)

250,000-550,000

Comments

Export inspections are up 8,574 MT from the previous week’s figure. Shipments are running 3.6% behind a year-ago, compared with 3.1% 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)

1,805,744

Expectations (MT)

900,000-1,955,000

Comments

Export inspections are down 384,627 MT from last week’s tally. Inspections are running 2.7% behind a year ago, compared to 4.4% behind last week. USDA’s 2022-23 export forecast of 1.990 billion bu. is 8.0% below 2021-22.