Soybean Inspections Above Expecations

November 7, 2011 04:06 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Nov. 3:

 

 

USDA Weekly Grain Export Inspections
Week Ended Nov. 3

Corn

Actual (million bu.)

22.168

Expectations (million bu.)

28-33

Comments:

Inspections were below expectations and about 9 million bu. below last week's tally. Inspections are running 23.1% behind year-ago, compared to 23.3% behind last week. USDA's 2011-12 export forecast is at 12.8% below the previous marketing year at 1.6 billion bushels.

Wheat

Actual (million bu.)

10.184

Expectations (million bu.)

18-23

Comments:

Inspections were below expectations and about 10.7 million bu. below last week's tally. Inspections are running 4.0% below year-ago, compared to 2.2% below last week. USDA's export forecast for the 2011-12 marketing year is 975 million bu., down 24% from the previous marketing year.

Soybeans

Actual (million bu.)

49.181

Expectations (million bu.)

40-45

Comments:

Inspections were above expectations and near last week's tally. Inspections for the new marketing year are running 34.6% below year-ago, compared to 37.4% below last week. USDA's 2011-12 export forecast is at 1.375 billion bu., down 8.3% from year-ago.

Link to USDA report.

 

 

 

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