Corn Export Inspections Continue to Surge

March 31, 2014 05:12 AM
 

Following are highlights of the Grain Export Inspections Report for the week ended March 27, 2014.

USDA Weekly Grain Export Inspections
Week Ended March 27, 2014

Corn

Actual (MT)

1,327,575

Expectations (MT)

950,000 - 1,150,000

Comments:

Inspections were up 177,473 MT from last week and they topped pre-report expectations. Inspections are running 104.0% ahead of year-ago compared to 101.0% ahead the week prior. USDA's 2013-14 export forecast of 1.625 billion bu. is 122.3% above the previous marketing year.

Wheat

Actual (MT)

492,577

Expectations (MT)

450,000 - 550,000

Comments:

Inspections were down 59,528 MT from the week prior and the tally met expectations. Inspections for 2013-14 are running 20.1% ahead of year-ago, compared to 21.7% ahead last week. USDA's export forecast for the 2013-14 marketing year is at 1.175 billion bu., up 16.7% from the previous marketing year.

Soybeans

Actual (MT)

506,039

Expectations (MT)

525,000 - 675,000

Comments:

Export inspections were down roughly 230,500 MT from last week and fell short of expectations. Inspections for the 2013-14 marketing year are running 22.0% ahead of year-ago compared to 22.2% ahead the week prior. USDA's 2013-14 export forecast is at 1.530 billion bu., up 15.9% from year-ago.

Link to USDA report.

  

 

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