Soybean Inspections Exceed Traders' Expectations

June 24, 2013 05:24 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended June 20, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended June 20, 2013

Corn

Actual (million bu.)

5.843 million bushels

Expectations (million bu.)

6-11

Comments:

Inspections were down by around 8.3 million bu. from last week and below traders' expectations. Inspections are running 56.4% behind year-ago, compared to 55.8% behind last week. USDA's 2012-13 export forecast of 700 million bu. is 54.6% below the previous marketing year.

Wheat

Actual (million bu.)

14.758 million bushels

Expectations (million bu.)

19-24

Comments:

Inspections were down around 6.8 million bu. from last week and below traders' expectations. The cumulative inspections pace for the 2013-14 marketing year is running 10.2% behind year-ago, compared to 3.8% behind last week. USDA's export forecast for the 2013-14 marketing year is at 975 million bu., down 3.5% from the previous marketing year.

Soybeans

Actual (million bu.)

7.827 million bushels

Expectations (million bu.)

1-3

Comments:

Export inspections were up around 5 million bu. from last week and well above expectations. Inspections for the 2012-13 marketing year are running 6.6% ahead of year-ago, compared to 6.6% ahead last week. USDA's 2012-13 export forecast is at 1.330 billion bu., down 2.3% from year-ago.

Link to USDA report.

 

 

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