Soybean Inspections Improve Compared to Last Week & Year Ago

July 2, 2012 05:14 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended June 28, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended June 28, 2012

Corn

Actual (million bu.)

22.214

Expectations (million bu.)

20-24

Comments:

Inspections met expectations, but they were nearly 8 million bu. below last week's tally. Inspections are running 11.1% behind year-ago, compared to 10.6% behind last week. USDA's 2011-12 export forecast is at 10.1% below the previous marketing year at 1.650 billion bushels.

Wheat

Actual (million bu.)

21.466

Expectations (million bu.)

18-24

Comments:

Inspections fell within the range of expectations and were nearly 2 million bu. above last week's tally. Inspections are running 18.5% below year-ago, compared to 19.4% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.150 billion bu., up 9.0% from the previous marketing year.

Soybeans

Actual (million bu.)

13.898

Expectations (million bu.)

10-15

Comments:

Export inspections met expectations and were 6.252 million bu. above last week's tally. Inspections for the new marketing year are running 14.7% below year-ago, compared to 15.2% below last week. USDA's 2011-12 export forecast is at 1.335 billion bu., down 11.1% from year-ago.

Link to USDA report.

 

 

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