Weekly Soybean Inspections Disappoint

March 18, 2013 01:22 PM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended March 14, 2013:

 

USDA Weekly Grain Export Inspections
Week Ended March 14, 2013

Corn

Actual (million bu.)

15.399

Expectations (million bu.)

10-15

Comments:

Inspections topped expectations. Cumulative inspections are running 56.0% behind year-ago compared to 56.7% behind last week. USDA's 2012-13 export forecast is at 46.5% below the previous marketing year at 825 million bushels.

Wheat

Actual (million bu.)

23.947

Expectations (million bu.)

21-27

Comments:

Inspections were within expectations. The cumulative inspections pace improved from last week and is now running 6.4% below year-ago, compared to 7.0% 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.)

8.927

Expectations (million bu.)

17-22

Comments:

Export inspections were well below expectations. Cumulative inspections are running 22.5% ahead of year-ago, compared to 24.6% 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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