Corn Inspections Within Expectations

August 12, 2013 05:04 AM
 

 

 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Aug. 8, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended Aug. 8, 2013

Corn

Actual (million bu.)

14.759

Expectations (million bu.)

10-15 million bu.

Comments:

Inspections were down slightly from last week and at the top end of traders' expectations. Inspections are running 54.7% behind year-ago, compared to 55.0% behind last week. USDA's 2012-13 export forecast of 700 million bu. is 56.2% below the previous marketing year.

Wheat

Actual (million bu.)

23.789 million bu.

Expectations (million bu.)

20-27 million bu.

Comments:

Inspections were around 6 million bu. lower than last week, but came within traders expectations. Inspections for 2013-14 are running 26% ahead of year-ago, compared to 25.9% ahead last week. USDA's export forecast for the 2013-14 marketing year is at 1.075 billion bu., up 6.5% from the previous marketing year.

Soybeans

Actual (million bu.)

3.417

Expectations (million bu.)

0.5-2.5 million bu.

Comments:

Export inspections were up 2 million bu. from last week and above lackluster expectations. Inspections for the 2012-13 marketing year are running 0.6% ahead of year-ago, compared to 0.3% ahead last week. USDA's 2012-13 export forecast is at 1.330 billion bu., down 2.3% from year-ago.

Link to USDA report.

 

 

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