The USDA’s weekly Export Sales report and weekly reports of export inspections provide timely information about export demand for U.S. agricultural commodities. The U.S. Census Bureau, however, is the official source of export estimates. The monthly Census Bureau reports are not as timely as USDA reports, but provide an opportunity to reassess export progress during the marketing year, said University of Illinois economist Darrel Good.
“For the marketing year that began on September 1, 2010, the USDA forecasts U.S. corn exports at 1.95 billion bushels, 37 million bushels less than were exported last year. Through the first 23 weeks of the marketing year (Sept. 1, 2010 through Feb. 10, 2011) the USDA’s weekly export inspections report showed cumulative export inspections of 737 million bushels, 7 million more than the total of the previous year,” he said.
Inspection estimates for the week ended Feb. 10 will likely be revised higher, as has been the pattern all year, so that the actual difference is likely closer to 10 million bushels, he said.… Continue reading
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