Corn and Wheat Export Inspections Top Expectations

May 13, 2013 05:20 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended May 9, 2013:

 

 

USDA Weekly Grain Export Inspections
Week Ended May 9, 2013

Corn

Actual (million bu.)

12.695

Expectations (million bu.)

6-12

Comments:

Inspections were up 5.858 million bu. from last week's tally and above expectations. Inspections are running 55.9% behind year-ago compared to 56.0% behind last week. USDA's 2012-13 export forecast is at 51.4% below the previous marketing year at 750 million bushels.

Wheat

Actual (million bu.)

23.986

Expectations (million bu.)

15-21

Comments:

Inspections were up 6 million bu. from last week's tally and above traders' expectations. The cumulative inspections pace is now running 2.8% behind year-ago, compared to 2.7% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.381 billion bu., up 16.8% from the previous marketing year.

Soybeans

Actual (million bu.)

3.351

Expectations (million bu.)

3-7

Comments:

Export inspections were down more than 3 million bu. from last week but within expectations. Inspections for the 2012-13 marketing year are running 11.8% ahead of year-ago, compared to 13.6% ahead last week. USDA's 2012-13 export forecast is at 1.350 billion bu., down 0.9% from year-ago.

Link to USDA report.

 

 

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