USDA Export Inspections

USDA Export Inspections

Soybeans🫘: 27.896 mbu 

Corn🌽: 76.317 mbu 

Wheat🌾: 12.317 mbu

Analysis 

76 million bushels of corn this week, up 25% from the prior week with Japan at 592K MT and Mexico at 541K combining for over 1.1M of the 1.939M total. Colombia at 259K was a distant third. Beans at 759K with China loading 447K, nearly 60% of the total. Netherlands at 60K and Mexico at 69K took most of the rest. Wheat slipped to 335K with Mexico at 99K, Vietnam at 66K, and Philippines at 65K. 

Three weeks into the new 26/27 corn and soybean marketing year. Corn has moved 4.139M MT versus 3.570M a year ago, running 16% ahead of last year’s pace. Soybeans at 1.682M are roughly even with last year. USDA’s targets for the full year are 3.275 billion bushels for corn and 1.685 billion for beans. Wheat at week 16 of its marketing year has shipped 6.028M versus 8.799M a year ago, a 32% deficit that continues to widen.