Corn Export Inspections Match Expectations, Soybeans Disappoint

May 7, 2012 05:13 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended May 3, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended May 3, 2012

Corn

Actual (million bu.)

29.324

Expectations (million bu.)

27-32

Comments:

Inspections were within expectations and about 4.3 million bu. above last week's tally. Inspections are running 6.9% behind of year-ago, compared to 7.0% 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.)

24.072

Expectations (million bu.)

20-23

Comments:

Inspections were above expectations and 4.241 million bu. above last week's tally. Inspections are running 19.5% below year-ago, compared to 18.9% below last week. USDA's export forecast for the 2011-12 marketing year is 1 billion bu., down 22.4% from the previous marketing year.

Soybeans

Actual (million bu.)

9.992

Expectations (million bu.)

14-18

Comments:

Export inspections fell well short of expectations. Inspections were 5.678 million bu. below last week's tally. Inspections for the new marketing year are running 19.6% below year-ago, compared to 19.9% below last week. USDA's 2011-12 export forecast is at 1.29 billion bu., down 14.1% from year-ago.

Link to USDA report.

 

 

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