USDA reports soybean export inspections for the week ending May 31 were larger than expected while corn and wheat were within pre-report estimates. Soybean and wheat inspections were more than 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 21.579 million bushels, up 1.005 million from the week ending May 24 but down 907,000 from the week ending June 2, 2011. With the 2011/12 marketing year for wheat ending June 1, inspections were 1.036 billion bushels, compared to 1.270 billion at the end of 2010/11.
Corn was reported at 27.106 million bushels, 3.303 million less than the previous week and 10.755 million below a year ago. At this point in the marketing year, corn inspections are 1.221 billion bushels, compared to 1.340 billion this time last year.
Soybeans were pegged at 16.965 million bushels, 2.274 million more than the prior week and 12.223 million above last year. So far this marketing year, soybean inspections are 1.164 billion bushels, compared to 1.398 billion a year ago.
Sorghum inspections totaled 89,000 bushels. That’s an increase of 29,000 bushels from the week before but a decrease of 3.428 million from a year ago. 2011/12 sorghum inspections are 41.920 million bushels, compared to 118.223 million in 2010/11.
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