export inspections

[vrbuck]

weekly inspections came out OK with weekly to date equaling 740,977.  Last years total was 739,641. 

the weekly inspections totaled 29,016.  The new WASDE export total of 1700 divided by 53 weeks equals 32,075 needed per week.  The last WASDE report needed a 31,132 pace to meet projections.

Last week was a blip on the radar for inspection pace.  Current weekly pace with this being week 24 and weekly total equal 740,977.  the pace would equal 30,874.

After week 24 we are 258 per week behind the pace needed to reach the new WASDE numbers. 

Not great numbers but OK.  NOt the numbers we had last week that the bulls gushed over.

http://www.ams.usda.gov/mnreports/wa_gr101.txt

[oncearound]

Arlan Suderman reports.......

"Exporters shipped 29.0 million bushels of corn in the week ending February 9, down from 40.4 million the previous week and below the five-year average for the week of 39.6 million. The week's shipments included 2.6 million bushels destined for China.

USDA reports that marketing year shipments to all destinations total 741 million bushels of corn, up 1 million from the previous year, even though USDA's target for this year is down 7.4% from the previous year. Even so, official Census Bureau data suggests that USDA is under-reporting shipments. Accounting for the differences, shipments to date exceed the seasonal pace needed to reach USDA's newly revised target by August 31 by 40 million bushels and the gap is slowly expanding."

[vrbuck]

Why read from suderman when you can read it directly from the USDA and make up your own mind.

[junior359]

If  you were to divide that buy 52 weeks you could put more of a bearish spin on that...... just sayin

[vrbuck]

well you could say it is 52 weeks but that would be a lie wouldn't it.  As for spin......the reports are hard data with no room for interpretation. 

[vrbuck]

http://graphics.thomsonreuters.com/GJM/SoybeanAcresByProjection.GIF

[Wright-Way]

Last I Checked there were not 371 days in a year and furthermore vr you spin things as bad to the bear side as mt does to the bull side. Sudermans information is some of the best because it is not spun to one side all the time it is presented for what it is.

[idalivered]

Buck, you've convinced me. I have about 40-50,000 of unpriced corn left from '11 and Im selling it today because , as your data would indicate, we headed for a mediocre prices based on less than optimal export shipments. And further, your previous information that ethanol stocks are climbing while future ethanol profits ap;ear to be suspect would add to the bearish scenario developing. thanks for the updates.