Wheat Inspections Top Expectations; Corn Disappoints

July 8, 2013 05:06 AM
 

 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended July 4, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended July 4, 2013

Corn

Actual (million bu.)

8.205

Expectations (million bu.)

9-15

Comments:

Inspections were up nearly 6.7 million bu. below last week and below traders' expectations. Inspections are running 56.2% behind year-ago, compared to 56.0% 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.)

25.589

Expectations (million bu.)

17-25

Comments:

Inspections were were down around 800,000 bu. from last week and were above traders' expectations. Inspections for 2013-14 are running 7.6% ahead of year-ago, compared to 3.2% 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.)

2.465

Expectations (million bu.)

2-6

Comments:

Export inspections were down around 2.1 million bu. from last week and came at the low end of expectations. Inspections for the 2012-13 marketing year are running 4.3% ahead of year-ago, compared to 5.7% 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.

 

 

Back to news

Comments

 

Rate this News Article:

Spell Check

No comments have been posted to this News Article

Close