Major Surge in Soybean Export Inspections

October 28, 2013 05:27 AM
 

The following are highlights of the Grain Export Inspections Report for the week ended Oct. 24, 2013.

 

USDA Weekly Grain Export Inspections
Week Ended Oct. 24, 2013

Corn

Actual (million bu.)

26.516

Expectations (million bu.)

21-32

Comments:

Inspections declined 5.801 million bu. from last week and came within pre-report expectations. Inspections are running 18.1% ahead of year-ago compared to 16.0% ahead the week prior. USDA's 2013-14 export forecast of 1.225 billion bu. is 66.7% above the previous marketing year.

Wheat

Actual (million bu.)

16.308

Expectations (million bu.)

18-26

Comments:

Inspections fell more than 4 million bu. from last week and the tally fell short of expectations. Inspections for 2013-14 are running 46.3% ahead of year-ago, compared to 45.7% 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.)

83.604

Expectations (million bu.)

46-54

Comments:

Export inspections surged 23.711 million bu. from last week and came in well above expectations. Inspections for the 2013-14 marketing year are running 20.3% behind year-ago compared to 29.5% behind the week prior. USDA's 2013-14 export forecast is at 1.370 billion bu., up 4.2% from year-ago.

Link to USDA report.

 

 

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