Corn Export Inspections Fall Well Short of Expectations

June 11, 2012 05:01 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended June 7, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended June 7, 2012

Corn

Actual (million bu.)

17.029

Expectations (million bu.)

25-31

Comments:

Inspections fell well short of expectations and were about 10.4 million bu. below last week's tally. Inspections are running 9.9% behind of year-ago, compared to 8.8% behind last week. USDA's 2011-12 export forecast is at 7.4% below the previous marketing year at 1.7 billion bushels.

Wheat

Actual (million bu.)

21.515

Expectations (million bu.)

18-25

Comments:

Inspections were within expectations and just slightly below with last week's tally. Inspections are running 34.9% below year-ago. USDA's export forecast for the 2012-13 marketing year is at 1.150 billion bu., up 12.2% from the previous marketing year.

Soybeans

Actual (million bu.)

14.215

Expectations (million bu.)

12-17

Comments:

Export inspections were within expectations and 2.947 million bu. below last week's tally. Inspections for the new marketing year are running 16.0% below year-ago, compared to 16.8% below last week. USDA's 2011-12 export forecast is at 1.315 billion bu., down 12.4% from year-ago.

Link to USDA report.

 

 

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