Corn Inspections Top and Soybeans Match Expectations

December 23, 2013 04:15 AM
 

The following are highlights of the Grain Export Inspections Report for the week ended Dec. 19, 2013.

 

USDA Weekly Grain Export Inspections
Week Ended Dec. 19, 2013

Corn

Actual (million bu.)

35.888

Expectations (million bu.)

27-34

Comments:

Inspections rose 10.75 million bu. from last week and topped pre-report expectations. Inspections are running 70.5% ahead of year-ago compared to 65.3% 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.)

19.464

Expectations (million bu.)

20-25

Comments:

Inspections rose 1.835 million bu. from last week and fell just short of expectations. Inspections for 2013-14 are running 41.1% ahead of year-ago, compared to 41.5% ahead last week. USDA's export forecast for the 2013-14 marketing year is at 1.100 billion bu., up 9.2% from the previous marketing year.

Soybeans

Actual (million bu.)

55.250

Expectations (million bu.)

48-57

Comments:

Export inspections fell 7.346 million bu. from last week and met expectations. Inspections for the 2013-14 marketing year are running 10.4% ahead of year-ago compared to 9.6% ahead the week prior. USDA's 2013-14 export forecast is at 1.475 billion bu., up 11.7% from year-ago.

Link to USDA report.

  

 

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