Corn Export Inspections Top Expectations

May 20, 2013 05:08 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended May 16, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended May 16, 2013

Corn

Actual (million bu.)

14.557

Expectations (million bu.)

7-12

Comments:

Inspections were up 1.862 million bu. from last week's tally and above expectations. Inspections are running 55.7% behind year-ago compared to 55.9% behind last week. USDA's 2012-13 export forecast is at 51.4% below the previous marketing year at 750 million bushels.

Wheat

Actual (million bu.)

21.149

Expectations (million bu.)

15-23

Comments:

Inspections were down roughly 2.8 million bu. from last week's tally and within traders' expectations. The cumulative inspections pace fell from last week and is now running 3.1% behind year-ago, compared to 2.8% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.381 billion bu., up 16.8% from the previous marketing year.

Soybeans

Actual (million bu.)

3.328

Expectations (million bu.)

2-8

Comments:

Export inspections were near steady with last week and within expectations. Inspections for the 2012-13 marketing year are running 10.8% ahead of year-ago, compared to 11.8% ahead last week. USDA's 2012-13 export forecast is at 1.350 billion bu., down 0.9% from year-ago.

Link to USDA report.

 

 

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