Wheat, Soybean Inspections Within Expectations

February 13, 2012 04:06 AM
 

Following are highlights of the Weekly Grain Export Inspections Report for the week ended Feb. 9, 2012:

 

 

USDA Weekly Grain Export Inspections
Week Ended Feb. 9

Corn

Actual (million bu.)

29.016

Expectations (million bu.)

34-40

Comments:

Inspections were below expectations and about 11.4 million bu. above last week's tally. Inspections are running 0.2% ahead 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.)

16.502

Expectations (million bu.)

14-20

Comments:

Inspections were within expectations and about 500,000 bu. below last week's tally. Inspections are running 14.9% below year-ago, compared to 14.7% 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.)

38.572

Expectations (million bu.)

33-40

Comments:

Inspections were within expectations and about 1 million bu. above last week's tally. Inspections are running 25.0% 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.

 

 

Juli says: While the corn inspections pace didn't meet traders' expectations, cumulative inspections are now running AHEAD of year-ago, signaling USDA still hasn't raised its export projection enough.

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