Wheat Export Inspections Rise, But Stay Behind Previous Year
26 December 2023 - 4:57PM
Dow Jones News
By Kirk Maltais
Wheat export inspections reported by the USDA for the week ended
Dec. 21 improved from last week's showing, but total inspections
remain well behind last year.
The USDA reported today that wheat inspections for the week
totaled 428,663 metric tons, which is up from 284,792 tons the
previous week. However, for the 2023/24 marketing year, wheat
inspections remain down 21% from 2022/23, at 9.33 million tons.
Corn inspections also rose from the previous week, rising to
1.08 million tons. Meanwhile, soybean inspections fell, dropping to
1.07 million tons. Corn remains 26% over shipments at this time
last year, while soybeans are 19% behind last year's pace.
While wheat shipments are dragging for the year, they may see
more upticks in coming reports, says Naomi Blohm of Total Farm
Marketing in a note following the report's release. "Wheat is down
from one year ago, however actual export sales are strong due to
recent Chinese purchases and likely have not yet left the country,"
says Blohm. "So we need to watch that on upcoming USDA
reports."
In today's CBOT session, most-active corn is up 0.8%, soybeans
are down 0.1%, and wheat is up 2.5%.
To see related data, search "USDA Grain Inspections for Export
in Metric Tons" in Dow Jones NewsPlus.
Write to Kirk Maltais at kirk.maltais@wsj.com
(END) Dow Jones Newswires
December 26, 2023 11:42 ET (16:42 GMT)
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