Soybean Inspections within Expectations, Corn, Wheat Inspections Disappoint

February 27, 2012 04:12 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Feb. 23, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended Feb. 23

Corn

Actual (million bu.)

27.037

Expectations (million bu.)

31-37

Comments:

Inspections were below expectations and 7.8 million bu. below last week's tally. Inspections are running 0.1% behind of year-ago, compared to 0.4% behind last week. USDA's 2011-12 export forecast is at 7.4% below the previous marketing year at 1.7 billion bushels.

Wheat

Actual (million bu.)

9.375

Expectations (million bu.)

17-22

Comments:

Inspections were well below expectations and 12.898 billion bu. below last week's tally. Inspections are running 16.0% below year-ago, compared to 15.2% below last week. USDA's export forecast for the 2011-12 marketing year is 975 million bu., down 24.4% from the previous marketing year.

Soybeans

Actual (million bu.)

36.973

Expectations (million bu.)

35-43

Comments:

Inspections were within expectations but about 1.5 million bu. below last week's tally. Inspections for the new marketing year are running 24.5% below year-ago, compared to 24.4% below last week. USDA's 2011-12 export forecast is at 1.275 billion bu., down 15.1% from year-ago.

Link to USDA report.

 

 

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