Soybean Export Inspections Top Expectations

December 26, 2012 04:14 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Dec. 20, 2012:

 

USDA Weekly Grain Export Inspections
Week Ended Dec. 20, 2012

Corn

Actual (million bu.)

13.475

Expectations (million bu.)

9-14

Comments:

Inspections were down nearly 3 million bu. from the previous week's tally but within expectations. But the cumulative inspections pace continues to slip further behind year-ago. Inspections are running 52.7% behind year-ago compared to 51.9% 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.)

15.128

Expectations (million bu.)

12-17

Comments:

Inspections were down roughly 1.5 million bu. from last week and within expectations. The cumulative inspections pace improved marginally from last week and is now running 12.9% below year-ago, compared to 13.2% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.050 billion bu., steady with the previous marketing year.

Soybeans

Actual (million bu.)

44.486

Expectations (million bu.)

37-42

Comments:

Export inspections rose 3.396 million bu. from last week's tally and topped expectations. Inspections for the new marketing year are running 38.6% ahead of year-ago, compared to 39.8% 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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