Corn: Weekly Export Inspections

Corn export inspections dropped down to 55.6 mb. Down sharply from 82 mb last week. We’ll see if USDA makes a major adjustment in that number next week. Sometimes that happens following a week that seems lower than it should be. Bottom line, through March, April, May, and into June U.S. exports have been consistently running above the level needed to reach USDA’s export forecast and we need 59 mb per week to reach USDA’s estimate. This is the first week that’s been below that level going all the way back to February. It certainly appears that U.S. corn exports will end up running above what USDA is currently projecting.