Wheat, Soybean Inspections Above Expectations

February 21, 2012 04:04 AM
 

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

 

 

 

USDA Weekly Grain Export Inspections
Week Ended Feb. 16

Corn

Actual (million bu.)

34.778

Expectations (million bu.)

32-38

Comments:

Inspections were within expectations and about 5.6 million bu. above last week's tally. Inspections are running 0.4% behind of year-ago, compared to 0.2% behind last week. USDA's 2011-12 export forecast is at 7.4% below the previous marketing year at 1.7 billion bushels.

Wheat

Actual (million bu.)

22.150

Expectations (million bu.)

15-19

Comments:

Inspections were above expectations and about 500,000 bu. below last week's tally. Inspections are running 15.2% below year-ago, compared to 14.9% below last week. USDA's export forecast for the 2011-12 marketing year is 975 million bu., down 24.4% from the previous marketing year.

Soybeans

Actual (million bu.)

38.410

Expectations (million bu.)

26-31

Comments:

Inspections were above expectations and about 1 million bu. below last week's tally. Inspections for the new marketing year are running 24.4% below year-ago, compared to 26.2% below last week. USDA's 2011-12 export forecast is at 1.275 billion bu., down 15.1% from year-ago.

Link to USDA report.

 

 

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