Soybean Export Inspections Impress, Corn Falls Short

January 6, 2014 04:13 AM
 

The following are highlights of the Grain Export Inspections Report for the week ended Jan. 2, 2014.

 

USDA Weekly Grain Export Inspections
Week Ended Jan. 2, 2014

Corn

Actual (million bu.)

19.318

Expectations (million bu.)

21-30

Comments:

Inspections fell 9.426 million bu. from last week and were below pre-report expectations. Inspections are running 79.4% ahead of year-ago compared to 75.5% ahead the week prior. USDA's 2013-14 export forecast of 1.450 billion bu. is 98.4% above the previous marketing year.

Wheat

Actual (million bu.)

13.601

Expectations (million bu.)

10-21

Comments:

Inspections were little changed from the week prior and the tally met expectations. Inspections for 2013-14 are running 40.4% ahead of year-ago, compared to 41.5% 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.)

56.446

Expectations (million bu.)

38-50

Comments:

Export inspections rose 12.708 million bu. from last week and came in above expectations. Inspections for the 2013-14 marketing year are running 12.5% ahead of year-ago compared to 11.0% ahead the week prior. USDA's 2013-14 export forecast is at 1.475 billion bu., up 11.7% from year-ago.

Link to USDA report.

  

 

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