Wheat and Soybean Export Inspections Top Expectations

February 19, 2013 04:10 AM
 

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

 

USDA Weekly Grain Export Inspections
Week Ended Feb. 14, 2013

Corn

Actual (million bu.)

9.500

Expectations (million bu.)

7-15

Comments:

Inspections were down roughly 5.3 million bu. from week's tally and within expectations. Inspections are running 56.6% behind year-ago compared to 55.9% 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.)

30.335

Expectations (million bu.)

15-20

Comments:

Inspections were up around 7 million bu. from last week's tally and well above expectations. The cumulative inspections pace improved from last week and is now running 8.7% below year-ago, compared to 10.3% 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.)

40.384

Expectations (million bu.)

29-36

Comments:

Export inspections were up 9.578 million bu. from last week's tally and above expectations. Inspections for the new marketing year are running 29.1% ahead of year-ago, compared to 30.1% 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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