USDA reports corn export inspections for the week ending May 24 were above pre-report estimates while soybeans and wheat were at the low end of estimates. Soybeans and wheat were above what’s needed weekly to meet USDA projections for the 2011/12 marketing year but corn fell short of its’ mark.
Wheat came out at 20.462 million bushels, down 4.531 million from the week ending May 17 and 6.072 million lower than the week ending May 26, 2011. With the 2011/12 marketing year all but over for wheat, inspections are 1.014 billion bushels, compared to 1.255 billion at the tail end of 2010/11.
Corn was reported at 29.530 million bushels, 3.644 million more than the previous week but 6.662 million less than this time last year. So far this marketing year, corn inspections are 1.193 billion bushels, compared to 1.302 billion a year ago.
Soybeans were pegged at 12.414 million bushels, a decrease of 560,000 from the week before but an increase of 1.530 million from last year. At this point in the marketing year, soybean inspections are 1.146 billion bushels, compared to 1.393 billion a year ago.
Sorghum totaled 60,000 bushels. That’s 179,000 below the week before and a drop of 2.789 million from a year ago. 2011/12 sorghum inspections are 41.831 million bushels, compared to 114.706 million in 2010/11.