Corn & Soybean Export Inspections Impress

February 18, 2014 04:16 AM
 

The following are highlights of the Grain Export Inspections Report for the week ended Feb. 13, 2014.

Note: USDA now releases export inspections data in metric tons (MT) rather than million bushels.

USDA Weekly Grain Export Inspections
Week Ended Feb. 13, 2014

Corn

Actual (MT)

827,610

Expectations (MT)

545,000 - 675,000

Comments:

Inspections were up 132,429 MT from last week and above pre-report expectations. Inspections are running 88.7% ahead of year-ago compared to 84.3% ahead the week prior. USDA's 2013-14 export forecast of 1.600 billion bu. is 118.9% above the previous marketing year.

Wheat

Actual (MT)

266,507

Expectations (MT)

300,000 - 410,000

Comments:

Inspections were up 191,517 MT from the week prior and the tally fell short of expectations. Inspections for 2013-14 are running 29.5% ahead of year-ago, compared to 32.8% ahead last week. USDA's export forecast for the 2013-14 marketing year is at 1.175 billion bu., up 16.7% from the previous marketing year.

Soybeans

Actual (MT)

1,470,848

Expectations (MT)

1,250,000 - 1,470,000

Comments:

Export inspections fell 95,275 MT from last week but the tally topped expectations. Inspections for the 2013-14 marketing year are running 17.9% ahead of year-ago compared to 17.2% ahead the week prior. USDA's 2013-14 export forecast is at 1.510 billion bu., up 14.4% from year-ago.

Link to USDA report.

  

 

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