Weekly Soybean Export Inspections Are Highly Disappointing

April 15, 2013 05:14 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended April 11, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended April 11, 2013

Corn

Actual (million bu.)

14.701

Expectations (million bu.)

10-16

Comments:

Inspections were up more than 4 million bu. from last week's tally and within expectations. Inspections are running 55.3% behind year-ago compared to 54.8% behind last week. USDA's 2012-13 export forecast is at 48.2% below the previous marketing year at 800 million bushels.

Wheat

Actual (million bu.)

23.476

Expectations (million bu.)

24-28

Comments:

Inspections were down nearly 5 million bu. from last week's tally and just below traders' expectations. The cumulative inspections pace improved from last week and is now running 3.1% below year-ago, compared to 3.0% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.025 billion bu., down 2.4% from the previous marketing year.

Soybeans

Actual (million bu.)

4.813

Expectations (million bu.)

12-17

Comments:

Export inspections were down 11.41 million bu. from last week and well below expectations. Inspections for the 2012-13 marketing year are running 16.1% ahead of year-ago, compared to 17.6% ahead last week. USDA's 2012-13 export forecast is at 1.350 billion bu., down 0.9% from year-ago.

Link to USDA report.

 

 

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