Soybean & Wheat Export Inspections Top Expectations

May 14, 2012 05:16 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended May 10, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended May 10, 2012

Corn

Actual (million bu.)

26.802

Expectations (million bu.)

28-33

Comments:

Inspections fell short of expectations and were about 2.8 million bu. below last week's tally. Inspections are running 7.6% behind of year-ago, compared to 6.9% behind last week. USDA's 2011-12 export forecast is at 7.4% below the previous marketing year at 1.7 billion bushels.

Wheat

Actual (million bu.)

28.004

Expectations (million bu.)

19-24

Comments:

Inspections were well above expectations and 3.643 million bu. above last week's tally. Inspections are running 19.1% below year-ago, compared to 19.5% below last week. USDA's export forecast for the 2011-12 marketing year is at 1.025 billion bu., down 20.5% from the previous marketing year.

Soybeans

Actual (million bu.)

20.311

Expectations (million bu.)

15-20

Comments:

Export inspections were just above expectations. Inspections were 9.595 million bu. above last week's tally. Inspections for the new marketing year are running 18.4% below year-ago, compared to 19.6% below last week. USDA's 2011-12 export forecast is at 1.315 billion bu., down 12.4% from year-ago.

Link to USDA report.

 

 

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