Wheat & Soybean Inspections Top Expectations

August 20, 2012 09:17 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Aug. 16, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended Aug. 16, 2012

Corn

Actual (million bu.)

21.515

Expectations (million bu.)

16-22

Comments:

Inspections were about 1.7 million bu. below last week's tally and near the upper end of expecations. Inspections are running 15.2% behind year-ago, compared to 15.0% behind last week. USDA's 2011-12 export forecast is at 15.5% below the previous marketing year at 1.550 billion bushels.

Wheat

Actual (million bu.)

23.424

Expectations (million bu.)

17-23

Comments:

Inspections were 1.139 million bu. above last week's tally and above expectations. Inspections are running 15.4% below year-ago, compared to 18.6% behind last week. USDA's export forecast for the 2012-13 marketing year is at 1.200 billion bu., up 14.3% from the previous marketing year.

Soybeans

Actual (million bu.)

21.426

Expectations (million bu.)

13-17

Comments:

Export inspections were 5.663 million bu. above last week's tally and above expectations. Inspections for the new marketing year are running 9.5% below year-ago, compared to 10.3% below last week. USDA's 2011-12 export forecast is at 1.350 billion bu., down 10.1% from year-ago.

Link to USDA report.

 

 

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