Corn Export Inspections Top Expectations; Beans Also Solid

January 21, 2014 04:09 AM
 

The following are highlights of the Grain Export Inspections Report for the week ended Jan. 16, 2014.

 

USDA Weekly Grain Export Inspections
Week Ended Jan. 16, 2014

Corn

Actual (million bu.)

29.811

Expectations (million bu.)

20-28

Comments:

Inspections were up nearly 9 million bu. from last week and above pre-report expectations. Inspections are running 84.3% ahead of year-ago compared to 81.1% ahead the week prior. USDA's 2013-14 export forecast of 1.450 billion bu. is 98.4% above the previous marketing year.

Wheat

Actual (million bu.)

15.557

Expectations (million bu.)

17-27

Comments:

Inspections were down roughly 10 million bu. from the week prior and the tally fell short of expectations. Inspections for 2013-14 are running 39.5% ahead of year-ago, compared to 42.3% ahead last week. USDA's export forecast for the 2013-14 marketing year is at 1.125 billion bu., up 11.7% from the previous marketing year.

Soybeans

Actual (million bu.)

56.591

Expectations (million bu.)

45-65

Comments:

Export inspections fell 2.791 million bu. from last week and came within expectations. Inspections for the 2013-14 marketing year are running 14.5% ahead of year-ago compared to 14.3% ahead the week prior. USDA's 2013-14 export forecast is at 1.495 billion bu., up 13.3% from year-ago.

Link to USDA report.

  

 

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