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Q1 2022 grain inspections in the Interior rose 33% above the five-year average, with shipments to Mexico up 19% and to China up 144%. National corn inspections were 25% above the five-year average but 7% lower year on year, with over 90% of shipments going to Asia and Latin America.
Soybean inspections fell 14% year on year, and wheat inspections were 9% lower, with the Atlantic and Great Lakes down 97%.
Lower year-on-year export inspections point to weaker US demand from Asia and Latin America, which pressures corn and soybean prices. Strong Interior shipments to Mexico and China partly offset that weakness.
doi.orgMatt Chang, Matt, Bernadette Winston, Bernadette, Matt Chang, Matt, Matt Chang, Matt, Bernadette Winston, BernadetteApr 21, 2022After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
