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South Central Iowa | I looked at the soybean inspections for the first time in a while yesterday. Even if we assume a couple million metric tonnes will be added by the Census Bureau, we will still need to export approximately 12 mmt just to meet USDA expectations in the remaining 19 weeks. That would be a record for the period, besting last year's 9.98 mmt and 2016's 9.54 mmt. It's unlikely we meet the inspections needed, even more so if corn is competing hard for available capacity.
Maybe we have increased our capacity or had available excess, I wouldn't know or be aware if we did. I'm not counting on us actually hitting the USDA number for soybean exports at this point unless we can start getting the 640,000+ inspections we need in short order and maintain that pace. August will probably export close to a million for those 4 weeks or so, so that could take a little pressure off, but 400,000 odd inspections will not cut it. | |
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Update on exports
