Weekly grain movement in the US, the pace slows down
United States
Published Nov 23, 2021
Tridge summary
The latest batch of grain export inspection data from USDA, out Monday morning and covering the week through November 18, didn’t have a lot of bullish numbers for traders to digest. Corn and soybean volumes were down moderately, and totals were on the lower end of analyst estimates. Wheat totals were even more lackluster after sliding below the entire range of trade guesses last week. Corn export inspections shifted 29% lower week-over-week, falling to 24.3 million bushels.
Original content
That was on the very low end of trade estimates, which ranged between 23.6 million and 39.4 million bushels. Cumulative totals for the 2021/22 marketing year saw last year’s lead widen slightly, with a total of 299.5 million bushels. Mexico was the No. 1 destination for U.S. corn export inspections last week, with 9.7 million bushels, followed by China’s 8.3 million bushels. Japan, Panama and Venezuela rounded out the top five. Sorghum export inspections rebounded to 6.4 million bushels last week, which China accounting for the bulk of that total (Somalia and a handful of other countries picked up the remainder). Cumulative totals for the 2021/22 marketing year are still off to a relatively slow start compared to last year’s pace, with 26.7 million bushels. Soybean export inspections eroded 29% below the prior week’s tally, to 61.9 million bushels. Analysts were generally expecting a bigger total, with trade guesses ranging between 40.4 million and 91.9 million bushels. Cumulative ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.