Corn and Soybean Export Inspections Above Expectations

March 4, 2013 04:10 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Feb. 28, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended Feb. 28, 2013

Corn

Actual (million bu.)

15.741

Expectations (million bu.)

7-13

Comments:

Inspections were up about 3 million bu. from week's tally and above expectations. Inspections are running 56.4% behind year-ago compared to 56.7% behind last week. USDA's 2012-13 export forecast is at 41.7% below the previous marketing year at 900 million bushels.

Wheat

Actual (million bu.)

23.980

Expectations (million bu.)

22-28

Comments:

Inspections were about 3 million bu. above last week's tally but came within traders' expectations. The cumulative inspections pace improved from last week and is now running 6.9% below year-ago, compared to 8.0% 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.)

40.274

Expectations (million bu.)

28-35

Comments:

Export inspections were up around 12.5 million bu. from last week were above expectations. Inspections for 2012-13 are running 26.3% ahead of year-ago, compared to 26.4% 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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