Corn Inspections Below Expectations

October 3, 2011 05:35 AM
 

 

USDA Weekly Grain Export Inspections
Week Ended Sept. 29

Corn

Actual (million bu.)

28.443

Expectations (million bu.)

30-35

Comments:

Inspections were below expectations and about 6 million bu. below last week's tally. Inspections are running 35.1% behind year-ago, compared to 38.4% 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.)

22.079

Expectations (million bu.)

22-27

Comments:

Inspections were within expectations and about 9.5 million bu. above last week's tally. Inspections are running 2.1% ahead of year-ago, compared to 4.8% 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.)

10.599

Expectations (million bu.)

9-14

Comments:

Inspections were well above expectations and about 3.7 million bu. below last week's tally. Inspections for the new marketing year are running 38.0% below year-ago, compared to 24.1% 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.

 

 

 

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