Weekly Export Inspections Disappoint for Grains and Soybeans

February 25, 2013 04:19 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Feb. 21, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended Feb. 21, 2013

Corn

Actual (million bu.)

11.567

Expectations (million bu.)

35-40

Comments:

Inspections were up roughly 1.9 million bu. from week's tally but well below expectations. Inspections are running 56.7% behind year-ago compared to 56.6% behind last week. USDA's 2012-13 export forecast is at 41.7% below the previous marketing year at 900 million bushels.

Wheat

Actual (million bu.)

21.167

Expectations (million bu.)

25-32

Comments:

Inspections were 2.551 million bu. below last week's tally and below expectations. The cumulative inspections pace improved from last week and is now running 8.0% below year-ago, compared to 8.7% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.050 billion bu., steady with the previous marketing year.

Soybeans

Actual (million bu.)

27.284

Expectations (million bu.)

35-40

Comments:

Export inspections were down around 13.5 million bu. from last week's tally and well below expectations. Inspections for the new marketing year are running 26.4% ahead of year-ago, compared to 29.1% ahead last week. USDA's 2012-13 export forecast is at 1.345 billion bu., down 1.2% from year-ago.

Link to USDA report.

 

 

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