Soybean Export Inspections Surge, Corn & Wheat Disappoint

February 4, 2013 04:26 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Jan. 31, 2013:

 

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

Corn

Actual (million bu.)

5.348

Expectations (million bu.)

11-16

Comments:

Inspections were about 15.8 million bu. below last week's tally and well below expectations. Inspections are running 56.3% behind year-ago compared to 54.5% behind last week. USDA's 2012-13 export forecast is at 38.4% below the previous marketing year at 950 million bushels.

Wheat

Actual (million bu.)

15.206

Expectations (million bu.)

18-22

Comments:

Inspections were down 7.077 million bu. from last week's tally and below expectations. The cumulative inspections pace improved marginally from last week and is now running 11.1% below year-ago, compared to 11.1% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.050 billion bu., steady with the previous marketing year.

Soybeans

Actual (million bu.)

53.892

Expectations (million bu.)

36-42

Comments:

Export inspections were up 13.225 million bu. from last week's tally and well above expectations. Inspections for the new marketing year are running 32.5% ahead of year-ago, compared to 32.3% ahead last week. USDA's 2012-13 export forecast is at 1.345 billion bu., down 1.2% from year-ago.

Link to USDA report.

 

 

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