Wheat, corn export inspections up, soybeans down

USDA’s Weekly Grain Export Inspections

Week Ended Feb. 3, 2022

Corn

Actual (MT)

1,053,202

Expectations (MT)

975,000-1,300,000

Comments

Export inspections increased 17,419 MT from last week’s figure, which was revised up 49 MT from the original figure. Inspections are running 13.9% behind year-ago, which compares to 12.4% behind last week. USDA projects exports in 2021-22 at 2.425 billion bu., 11.9% below the previous marketing year.

Wheat

Actual (MT)

417,750

Expectations (MT)

250,000-450,000

Comments

Export inspections were up 41,226 MT from the previous week’s figure, which was increased 15,149 MT from the original figure. Shipments are running 17.8% behind year-ago, which compares to 18.0% behind last week. USDA projects exports in 2021-22 at 825 million bu., down 16.8% from the previous marketing year.

Soybeans

Actual (MT)

1,217,991

Expectations (MT)

1,000,000-1,850,000

Comments

Export inspections declined 197,901 MT from last week’s tally, which was increased 4,481 MT. Inspections remain running 23.8% behind year-ago, compared to 23.6% last week. USDA’s 2021-22 export forecast of 2.050 billion bu. is 9.5% below 2020-21.