Corn Export Inspections Top Expectations

July 23, 2012 05:16 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended July 19, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended July 19, 2012

Corn

Actual (million bu.)

19.598

Expectations (million bu.)

8-12

Comments:

Inspections were about 2.6 million bu. below last week's tally but well above expecations. Inspections are running 13.1% behind year-ago, compared to 12.2% behind last week. USDA's 2011-12 export forecast is at 12.8% below the previous marketing year at 1.600 billion bushels.

Wheat

Actual (million bu.)

11.644

Expectations (million bu.)

11-16

Comments:

Inspections were about 3.6 million bu. below last week's tally and in-line with expectations. Inspections are running 23.9% below year-ago, compared to 20.0% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.200 billion bu., up 14.5% from the previous marketing year.

Soybeans

Actual (million bu.)

15.756

Expectations (million bu.)

12-17

Comments:

Export inspections were 884,000 bu. above last week's tally and within expectations. Inspections for the new marketing year are running 12.1% below year-ago, compared to 12.9% below last week. USDA's 2011-12 export forecast is at 1.340 billion bu., down 10.7% from year-ago.

Link to USDA report.

 

 

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