Soybean Export Inspections Top Expectations

June 4, 2012 05:13 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended May 31, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended May 31, 2012

Corn

Actual (million bu.)

27.106

Expectations (million bu.)

24-29

Comments:

Inspections topped expectations and were about 3.3 million bu. below last week's tally. Inspections are running 8.8% behind of year-ago, compared to 8.4% 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.)

21.579

Expectations (million bu.)

18-25

Comments:

Inspections were within expectations and about 1 million bu. above last week's tally. Inspections are running 18.4% below year-ago, compared to 19.2% 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.)

16.965

Expectations (million bu.)

9-14

Comments:

Export inspections were above expectations and 4.274 million bu. above last week's tally. Inspections for the new marketing year are running 16.8% below year-ago, compared to 17.7% 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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