Soybean Export Inspections Disappoint; Wheat Tops Expectations

March 11, 2013 05:14 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended March 7, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended March 7, 2013

Corn

Actual (million bu.)

14.437

Expectations (million bu.)

10-15

Comments:

Inspections were down roughly 1.76 million bu. from last week's tally but within expectations. Inspections are running 56.7% behind year-ago compared to 56.4% 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.)

27.856

Expectations (million bu.)

19-25

Comments:

Inspections were up around 2.9 million bu. from last week's tally and above traders' expectations. The cumulative inspections pace improved from last week and is now running 7.0% below year-ago, compared to 6.9% 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.)

17.114

Expectations (million bu.)

25-32

Comments:

Export inspections were down 23.222 million bu. from last week and well below expectations. Inspections for the 2012-13 are running 24.6% ahead of year-ago, compared to 26.3% 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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