Wheat inspections top trade expectations by more than 100,000 MT

Weekly export inspections for week ended Sep. 8 revealed wheat inspections above trade expectations; corn and soybean inspections continue to run ahead of year-ago levels.

Exports by Canva
Exports by Canva
(Farm Journal)

USDA’s Weekly Grain Export Inspections

Week Ended Sep. 8, 2022

Corn

Actual (MT)

446,620

Expectations (MT)

325,000-825,000

Comments

Export inspections are down 85,047 MT from last week’s tally. Inspections are running 340,080 MT ahead of a year-ago. USDA projects exports in 2022-23 at 2.375 billion bu., 3.1% below the previous marketing year.

Wheat

Actual (MT)

736,515

Expectations (MT)

250,000-625,000

Comments

Export inspections are up 198,186 MT from the previous week’s figure. Shipments are running 11% behind year-ago, compared with 15.3% behind year-ago last week. USDA projects exports in 2022-23 at 825 million bu., up 3.1% from the previous marketing year.

Soybeans

Actual (MT)

329,225

Expectations (MT)

400,000-650,000

Comments

Export inspections are down 171,061 MT from last week’s tally. Inspections are running 157,276 MT ahead of a year ago. USDA’s 2022-23 export forecast of 2.155 billion bu. is 0.2% below 2021-22.