Another Surge in Soybean Export Inspections

10:17AM Oct 15, 2013
( )

While the government shutdown remains in effect, Reuters reports the following highlights of the Grain Export Inspections Report for the week ended Oct. 10, 2013, based on data from USDA's Federal Grain Inspection Service.

 

USDA Weekly Grain Export Inspections
Week Ended Oct. 10, 2013

Corn

Actual (million bu.)

21.733

Expectations (million bu.)

23-31

Comments:

Inspections were down roughly 3.5 million bu. from last week. Inspections fell short of pre-report expectations. Inspections are running 17.4% behind year-ago compared to 17.4% behind year-ago last week. USDA's 2013-14 export forecast of 1.225 billion bu. is 66.7% above the previous marketing year.

Wheat

Actual (million bu.)

25.287

Expectations (million bu.)

27.5-35

Comments:

Inspections fell 4.5 million bu. from last week and the tally fell short of expectations. Inspections for 2013-14 are running 39.5% ahead of year-ago, compared to 39.5% 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.)

47.381

Expectations (million bu.)

27-43

Comments:

Export inspections surged 16.831 million bu. from last week and topped expectations. Inspections for the 2013-14 marketing year are running 53.3% behind year-ago compared to 53.3% behind year-ago 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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