Corn & Wheat Export Inspections Top Expectations

July 1, 2013 05:10 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended June 27, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended June 27, 2013

Corn

Actual (million bu.)

14.818

Expectations (million bu.)

4-9

Comments:

Inspections were up nearly 9 million bu. from last week and well above traders' expectations. Inspections are running 56.0% behind year-ago, compared to 56.4% behind last week. USDA's 2012-13 export forecast of 700 million bu. is 54.6% below the previous marketing year.

Wheat

Actual (million bu.)

26.420

Expectations (million bu.)

14-20

Comments:

Inspections were up 11.666 million bu. from last week and well above traders' expectations. The cumulative inspections pace for the 2013-14 marketing year is running 3.2% behind year-ago, compared to 10.2% behind last week. USDA's export forecast for the 2013-14 marketing year is at 975 million bu., down 3.5% from the previous marketing year.

Soybeans

Actual (million bu.)

4.518

Expectations (million bu.)

2-7

Comments:

Export inspections were down more than 3 million bu. from last week and came within expectations. Inspections for the 2012-13 marketing year are running 5.7% ahead of year-ago, compared to 6.6% ahead last week. USDA's 2012-13 export forecast is at 1.330 billion bu., down 2.3% from year-ago.

Link to USDA report.

 

 

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