Corn Inspections Above Expectations

September 28, 2011 03:47 AM
 

 

USDA Weekly Grain Export Inspections
Week Ended Sept. 22

Corn

Actual (million bu.)

34.282

Expectations (million bu.)

26-32

Comments:

Inspections were above expectations and about 10 million bu. above last week's tally. Inspections are running 38.4% below year-ago, compared to 52.4% behind last week. USDA's 2010-11 export forecast is at 1.65 billion bu., down 10.1% from year-ago levels.

Wheat

Actual (million bu.)

21.605

Expectations (million bu.)

18-27

Comments:

Inspections were within expectations and about 12.4 million bu. below last week's tally. Inspections are running 4.8% ahead of year-ago, compared to 6.0% ahead last week. USDA's export forecast for the 2011-12 marketing year is 1.025 billion bu., down 20.5% from the previous marketing year.

Soybeans

Actual (million bu.)

7.418

Expectations (million bu.)

9-13

Comments:

Inspections were below expectations and about 3.7 million bu. below last week's tally. Inspections for the new marketing year are running 24.1% below year-ago, compared to 1.9% below last week. USDA's 2010-11 export forecast is at 1.415 billion bu., down 5.4% from year-ago levels.

Link to USDA report.

 

 

 

Juli says: The corn inspections tally is supportive for the market this morning, while the soybean and wheat tallies represent softer demand.

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