USDA reports soybean and wheat export inspections for the week ending June 7 were within pre-report expectations while corn fell below analysts’ estimates. For the 2011/12 marketing year, soybean inspections were above what’s needed weekly to meet USDA projections for the 2011/12 marketing year but corn fell short of its’ mark. In the first reporting week for the 2012/13 marketing year, wheat was just under its target.
Wheat came out at 21.515 million bushels, down 112,000 from the week ending May 31 and 3.345 million lower than the week ending June 9, 2011. One reporting week into the 2012/13 marketing year, wheat inspections are 21.515 million bushels, compared to 33.044 million in the first week of 2011/12.
Corn was reported at 17.029 million bushels, 10.426 million less than the previous week and 18.413 million below a year ago. At this point in the 2011/12 marketing year, corn inspections are 1.238 billion bushels, compared to 1.375 billion in 2010/11.
Soybeans were pegged at 14.215 million bushels, that’s down 2.947 million from the week before but up 6.560 million from last year at this time. So far this marketing year, soybean inspections are 1.181 billion bushels, compared to 1.406 billion a year ago.
Sorghum inspections totaled 281,000 bushels. That’s an increase of 192,000 bushels from the week before but a decrease of 1.675 million from last year. 2011/12 sorghum inspections are 42.201 million bushels, compared to 120.179 million in 2010/11.