Corn and Wheat Inspections Top Expectations

March 12, 2012 05:08 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended March 8, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended March 8, 2012

Corn

Actual (million bu.)

36.246

Expectations (million bu.)

30-35

Comments:

Inspections were above expectations and about 5.2 million bu. above last week's tally. Inspections are running 2.0% behind of year-ago, compared to 1.7% 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.)

31.597

Expectations (million bu.)

13-19

Comments:

Inspections were well above expectations and 14.206 million bu. above last week's tally. Inspections are running 15.1% below year-ago, compared to 16.0% below last week. USDA's export forecast for the 2011-12 marketing year is 975 million bu., down 24.4% from the previous marketing year.

Soybeans

Actual (million bu.)

26.247

Expectations (million bu.)

30-37

Comments:

Inspections were below expectations and 6.626 million bu. below last week's tally. Inspections for the new marketing year are running 23.1% below year-ago, compared to 23.1% below last week. USDA's 2011-12 export forecast is at 1.275 billion bu., down 15.1% from year-ago.

Link to USDA report.

 

 

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