Soybean Inspections Top Expectations

July 9, 2012 05:11 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended July 5, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended July 5, 2012

Corn

Actual (million bu.)

22.845

Expectations (million bu.)

19-25

Comments:

Inspections met expectations, but they and they were 507,000 bu. above last week's tally. Inspections are running 11.6% behind year-ago, compared to 11.1% 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.)

14.898

Expectations (million bu.)

17-23

Comments:

Inspections fell short of expectations and were nearly 7.8 million bu. below last week's tally. Inspections are running 19.5% below year-ago, compared to 18.5% 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.)

18.906

Expectations (million bu.)

10-15

Comments:

Export inspections topped expectations and were 4.272 million bu. above last week's tally. Inspections for the new marketing year are running 13.7% below year-ago, compared to 14.7% 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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