Alpari Grain Outlook 12/10

By International Business Times,  December 10, 2012, 04:37:23 PM EDT

Monday's weekly export inspections report showed a slowing interest, which in part could be the result of Tuesday's impending 7:30 AM CST USDA monthly crop report. Importers may be awaiting its results for marketing direction. Wheat inspections for near term export was estimated at 13.9 million bushels, down from 14.6 the week prior, and the four week average of 10.7. Corn inspections were 7.8 million bushels versus 10.4 last week, and the four week average of 12.2 and 37 a year ago. Bean inspections came in at 46.6 million bushels, down from 51.9 last week, four week average of 55 and a year ago of 29.9. The only one of concern is corn, as each week unveils a lower and lower export demand pace on two fronts. There are a few reasons for this. First, our government encourages regular customers to purchase bulk elsewhere as our ending stocks are just too low. Second, South America and Russia are offering corn at $30.00 per ton cheaper than the US.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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