Bullish Export Inspections Report for Grains & Soy

USDA Weekly Grain Export Inspections
Week Ended Dec. 5, 2013

Corn

Actual (million bu.)

Expectations (million bu.)

28-32

Comments:

Inspections rose nearly 4.2 million bu. from last week and topped pre-report expectations. Inspections are running 66.2% ahead of year-ago compared to 53.2% ahead the week prior. USDA’s 2013-14 export forecast of 1.400 billion bu. is 91.5% above the previous marketing year.

Wheat

Actual (million bu.)

19.760

Expectations (million bu.)

11-15

Comments:

Inspections rose 4.245 million bu. from last week and topped expectations. Inspections for 2013-14 are running 42.7% ahead of year-ago, compared to 42.8% ahead last week. USDA’s export forecast for the 2013-14 marketing year is at 1.100 billion bu., up 9.2% from the previous marketing year.

Soybeans

Actual (million bu.)

60.430

Expectations (million bu.)

48-55

Comments:

Export inspections rose around 5.5 million bu. from last week and topped expectations. Inspections for the 2013-14 marketing year are running 7.5% ahead of year-ago compared to 5.5% ahead the week prior. USDA’s 2013-14 export forecast is at 1.450 billion bu., up 9.8% from year-ago.

Link to USDA report.