Corn Inspections Above Expectations, Soybeans Below

November 21, 2011 04:00 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Nov. 17:

 

 

USDA Weekly Grain Export Inspections
Week Ended Nov. 17

Corn

Actual (million bu.)

37.567

Expectations (million bu.)

26-32

Comments:

Inspections were above expectations and about 2 million bu. above last week's tally. Inspections are running 16.1% behind year-ago, compared to 21.6% behind last week. USDA's 2011-12 export forecast is at 12.8% below the previous marketing year at 1.6 billion bushels.

Wheat

Actual (million bu.)

11.597

Expectations (million bu.)

11-16

Comments:

Inspections were within expectations and 3.352 million bu. below last week's tally. Inspections are running 5.4% below year-ago, compared to 4.4% below last week. USDA's export forecast for the 2011-12 marketing year is 975 million bu., down 24% from the previous marketing year.

Soybeans

Actual (million bu.)

40.762

Expectations (million bu.)

45-50

Comments:

Inspections were below expectations and 13.289 million bu. below last week's tally. Inspections for the new marketing year are running 32.7% below year-ago, compared to 33.2% below last week. USDA's 2011-12 export forecast is at 1.375 billion bu., down 8.3% from year-ago.

Link to USDA report.

 

 

 

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