Corn and Wheat Export Inspections Top Expectations

January 28, 2013 04:08 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Jan. 24, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended Jan. 24, 2013

Corn

Actual (million bu.)

21.127

Expectations (million bu.)

8-15

Comments:

Inspections were up around 9.5 million bu. from last week's tally and above expectations. Inspections are running 54.5% behind year-ago compared to 56.3% behind last week. USDA's 2012-13 export forecast is at 38.4% below the previous marketing year at 950 million bushels.

Wheat

Actual (million bu.)

22.283

Expectations (million bu.)

13-21

Comments:

Inspections were down 234,000 bu. from last week's tally and above expectations. The cumulative inspections pace improved marginally from last week and is now running 11.1% below year-ago, compared to 12.1% 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.)

40.667

Expectations (million bu.)

27-45

Comments:

Export inspections were down 8.381 million bu. from last week's tally but within expectations. Inspections for the new marketing year are running 32.3% ahead of year-ago, compared to 34.3% 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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