Soybean & Corn Export Inspections Top Expectations

March 25, 2013 05:15 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended March 21, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended March 21, 2013

Corn

Actual (million bu.)

17.225

Expectations (million bu.)

12-17

Comments:

Inspections were up more than 1.3 million bu. from last week's tally and topped expectations. Inspections are running 55.3% behind year-ago compared to 56.0% behind last week. USDA's 2012-13 export forecast is at 46.5% below the previous marketing year at 825 million bushels.

Wheat

Actual (million bu.)

20.788

Expectations (million bu.)

18-26

Comments:

Inspections were down around 3.2 million bu. from last week's tally and within traders' expectations. The cumulative inspections pace improved from last week and is now running 5.6% below year-ago, compared to 6.4% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.025 billion bu., down 2.4% from the previous marketing year.

Soybeans

Actual (million bu.)

18.458

Expectations (million bu.)

10-15

Comments:

Export inspections were up 8.446 million bu. from last week and above expectations. Inspections for the 2012-13 marketing year are running 21.3% ahead of year-ago, compared to 22.5% ahead last week. USDA's 2012-13 export forecast is at 1.345 billion bu., down 1.2% from year-ago.

Link to USDA report.

 

 

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