Soybean Export Inspections Impress, Wheat Disappoints

November 4, 2013 04:09 AM
 

The following are highlights of the Grain Export Inspections Report for the week ended Oct. 31, 2013.

 

USDA Weekly Grain Export Inspections
Week Ended Oct. 31, 2013

Corn

Actual (million bu.)

31.316

Expectations (million bu.)

25-32

Comments:

Inspections rose 4.364 million bu. from last week and came within pre-report expectations. Inspections are running 30.2% ahead of year-ago compared to 18.1% ahead the week prior. USDA's 2013-14 export forecast of 1.225 billion bu. is 66.7% above the previous marketing year.

Wheat

Actual (million bu.)

7.146

Expectations (million bu.)

13-19

Comments:

Inspections fell roughly 9.5 million bu. from last week and the tally fell short of expectations. Inspections for 2013-14 are running 43.1% ahead of year-ago, compared to 46.3% ahead last week. USDA's export forecast for the 2013-14 marketing year is at 1.100 billion bu., up 9.2% from the previous marketing year.

Soybeans

Actual (million bu.)

80.559

Expectations (million bu.)

60-75

Comments:

Export inspections fell around 3 million bu. from last week but still came in above expectations. Inspections for the 2013-14 marketing year are running 8.8% behind year-ago compared to 20.3% behind the week prior. USDA's 2013-14 export forecast is at 1.370 billion bu., up 4.2% from year-ago.

Link to USDA report.

 

 

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