Soybean Export Inpsection Top Lofty Expectations

October 22, 2012 05:14 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Oct. 18, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended Oct. 18, 2012

Corn

Actual (million bu.)

9.605

Expectations (million bu.)

17-25

Comments:

Inspections were down 7.632 million bu. from last week's tally and within expecations. Inspections are running 34.9% behind year-ago compared to 29.1% behind last week. USDA's 2012-13 export forecast is at 25.5% below the previous marketing year at 1.150 billion bushels.

Wheat

Actual (million bu.)

16.402

Expectations (million bu.)

10-16

Comments:

Inspections were 9.399 million bu. above last week's tally and just above expectations. Inspections are running 10.9% below year-ago, compared to 11.2% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.150 billion bu., up 9.5% from the previous marketing year.

Soybeans

Actual (million bu.)

61.422

Expectations (million bu.)

40-50

Comments:

Export inspections were about 3.1 million bu. above last week's tally and well above expectations. Inspections for the new marketing year are running 34.6% ahead of year-ago, compared to 57.6% ahead last week. USDA's 2012-13 export forecast is at 1.265 billion bu., down 7.0% from year-ago.

Link to USDA report.

 

 

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