Corn Inspections Above Expectations, Soybeans Disappoint

10:08AM Dec 12, 2011
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Following are highlights of the Weekly Grain Export Inspections Report for the week ended Dec. 8:

 

 

USDA Weekly Grain Export Inspections
Week Ended Dec. 8

Corn

Actual (million bu.)

35.674

Expectations (million bu.)

28-35

Comments:

Inspections were just above expectations and about 3 million bu. below last week's tally. Inspections are running 9.2% behind year-ago, compared to 10.2% 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.)

16.504

Expectations (million bu.)

14-20

Comments:

Inspections were within expectations and about 2 million bu. above last week's tally. Inspections are running 7.5% below year-ago, compared to 7.3% 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.)

29.749

Expectations (million bu.)

35-40

Comments:

Inspections were were below expectations and 2.29 million bu. below last week's tally. Inspections for the new marketing year are running 33.2% below year-ago, compared to 33% 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.