Corn & Wheat Export Inspections Exceed Expectations

April 16, 2012 09:18 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended April 12, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended April 12, 2012

Corn

Actual (million bu.)

42.875

Expectations (million bu.)

25-30

Comments:

Inspections were well above expectations and 16.302 million bu. above last week's tally. Inspections are running 5.7% behind of year-ago, compared to 6.7% behind last week. USDA's 2011-12 export forecast is at 7.4% below the previous marketing year at 1.7 billion bushels.

Wheat

Actual (million bu.)

25.745

Expectations (million bu.)

16-21

Comments:

Inspections were above expectations and about 8 million bu. above last week's tally. Inspections are running 18.2% below year-ago, compared to 17.7% below last week. USDA's export forecast for the 2011-12 marketing year is 1 billion bu., down 22.4% from the previous marketing year.

Soybeans

Actual (million bu.)

18.065

Expectations (million bu.)

25-30

Comments:

Inspections were below expectations and about 9.8 million bu. below last week's tally. Inspections for the new marketing year are running 20.9% below year-ago, compared to 21.4% below last week. USDA's 2011-12 export forecast is at 1.29 billion bu., down 14.1% from year-ago.

Link to USDA report.

 

 

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