Corn and Soybean Inspections Within Expectations

August 22, 2011 05:08 AM
 

  

USDA Weekly Grain Export Inspections
Week Ended August 22

Corn

Actual (million bu.)

29.513

Expectations (million bu.)

28-35

Comments:

Inspections were within expectations and about 7.6 million bu. below last week's total. Inspections are running 4.3% behind year-ago, compared to 4.2% behind last week. USDA's 2010-11 export forecast is at 1.825 billion bu., down 7.8% from year-ago levels.

Wheat

Actual (million bu.)

17.421

Expectations (million bu.)

20-25

Comments:

Inspections were below expectations and about 4 million bu. below last week's level. Inspections are running 18.1% ahead of year-ago, compared to 22.7% ahead last week. USDA's export forecast for the 2011-12 marketing year is 1.10 billion bu., down 14.7% from the previous marketing year.

Soybeans

Actual (million bu.)

10.854

Expectations (million bu.)

5-13

Comments:

Inspections were within expectations and about 4 million bu. above last week's level. Inspections are running 2.1% ahead of year-ago, compared to 2.0% ahead last week. USDA's 2010-11 export forecast is at 1.495 billion bu., down marginally from last season.

Link to USDA report.

 

 

 

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