Corn and Wheat Inspections Improve From Last Week

December 17, 2012 04:09 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Dec. 13, 2012:

 

USDA Weekly Grain Export Inspections
Week Ended Dec. 13, 2012

Corn

Actual (million bu.)

15.016

Expectations (million bu.)

9-14

Comments:

Inspections were 7 million bu. stronger than the previous week's tally and just above expectations. But the cumulative inspections pace is slipping further behind year-ago. Inspections are running 51.9% behind year-ago compared to 50.4% behind last week. USDA's 2012-13 export forecast is at 25.5% below the previous marketing year at 1.150 billion bushels.

Wheat

Actual (million bu.)

16.355

Expectations (million bu.)

11-16

Comments:

Inspections were up 2 million bu. from last week and just above expectations. The cumulative inspections pace improved marginally from last week, now running 13.2% below year-ago, compared to 13.6% 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.)

36.990

Expectations (million bu.)

40-46

Comments:

Export inspections declined 11.5 million bu. from last week's tally and came in below expectations. Inspections for the new marketing year are running 39.8% ahead of year-ago, compared to 41.1% 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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