US: Export Inspections


March 1, 2021 10:00 CST

Weekly Export Inspections Summary
Weekly
Inspections
Metric Tonnes
Needed
Per Week to
Meet USDA Est.
Current Yr
% of
USDA Est
5 Yr. Avg.
% of
USDA Est
Soybeans - 2020-21 Marketing Year
Feb-25879,582352,29284.7%66.4%
Feb-18803,548374,43064.8%64.8%
Feb-11922,181390,56762.8%62.8%
Feb-041,904,499408,25360.5%60.5%
Jan-281,906,482457,54958.2%58.2%
Corn - 2020-21 Marketing Year
Feb-251,636,8761,519,32338.9%37.3%
Feb-181,266,5551,524,84735.4%35.4%
Feb-111,314,9601,514,03633.5%33.5%
Feb-041,585,1451,507,84331.8%31.8%
Jan-281,116,0971,510,46630.3%30.3%
Wheat - 2020-21 Marketing Year
Feb-25272,820330,13667.3%69.4%
Feb-18324,597328,28367.5%67.5%
Feb-11418,816329,07365.6%65.6%
Feb-04452,967331,62263.9%63.9%
Jan-28414,248335,77161.9%61.9%

Highlights
BEANS
Soybean export inspections for the week ending February 25 came in at 879,582 metric tonnes. Cumulative inspections year-to-date are 51,879,094 metric tonnes which is 76.3% above last year. This is 84.7% of the USDA's forecast for the 2020-21 marketing year versus the five year average of 66.4%.

CORN
Corn export inspections for the week ending February 25 came in at 1,636,876 metric tonnes. Cumulative inspections year-to-date are 25,669,415 metric tonnes which is 80.7% above last year. This is 38.9% of the USDA's forecast for the 2020-21 marketing year versus the five year average of 37.3%.

WHEAT
Wheat export inspections for the week ending February 25 came in at 272,820 metric tonnes. Cumulative inspections year-to-date are 18,037,816 metric tonnes which is 4.1% below last year. This is 67.3% of the USDA's forecast for the 2020-21 marketing year versus the five year average of 69.4%.

Definition
This report contains a weekly summary of grains weighed for export in metric tons, including totals for the current and previous market year to date. Included are grains prepared for export weekly by country of destination and port area.

Description
This report provides a weekly update of US exports of corn, wheat and soybeans. The data compiled in this report is a measure of actual exports leaving the country. Exports are covered in greater detail in the weekly Export Sales report, which is released on Thursday, but because this report is released out on Mondays, it offers an earlier glimpse of the week's exports.

This report presents export inspections data for the week ending the previous Thursday. It also includes the data from the previous week and a year ago. It includes cumulative data for the current marketing year and the cumulative number for the same week a year ago.

Analysts like to compare the current year's export inspections pace with previous years. They also measure the pace against the USDA's export forecast for the entire marketing year. For example, if cumulative US soybean export inspections have reached 45% of the USDA's forecast for the entire marketing year, while the five-year average for that week was only 40%, it would suggest that exports are running stronger than what the USDA has forecast. This could draw an analyst to conclude that the USDA will revise its export forecast higher in future Supply/Demand (WASDE) reports.

The reports also include detail on the destinations for the exports, which is helpful when tracking certain customers (China for example) whose buying patterns may be of particular interest.