Corn Export Inspections Fall Short of Expectations

November 12, 2013 04:10 AM
 

The following are highlights of the Grain Export Inspections Report for the week ended Nov. 7, 2013.

 

USDA Weekly Grain Export Inspections
Week Ended Nov. 7, 2013

Corn

Actual (million bu.)

16.701

Expectations (million bu.)

27-34

Comments:

Inspections fell 14.655 million bu. from last week and fell short of pre-report expectations. Inspections are running 32.8% ahead of year-ago compared to 30.2% ahead the week prior. USDA's 2013-14 export forecast of 1.400 billion bu. is 91.5% above the previous marketing year.

Wheat

Actual (million bu.)

12.228

Expectations (million bu.)

4-15

Comments:

Inspections rose roughly 3.3 million bu. from last week and the tally matched expectations. Inspections for 2013-14 are running 42.9% ahead of year-ago, compared to 43.1% ahead last week. USDA's export forecast for the 2013-14 marketing year is at 1.100 billion bu., up 9.2% from the previous marketing year.

Soybeans

Actual (million bu.)

79.697

Expectations (million bu.)

63-90

Comments:

Export inspections fell 774,000 bu. from last week and matched expectations. Inspections for the 2013-14 marketing year are running 4.1% behind year-ago compared to 8.8% behind the week prior. USDA's 2013-14 export forecast is at 1.450 billion bu., up 9.8% from year-ago.

Link to USDA report.

 

 

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