USDA reports the week ending June 14 was a bearish one for grain and oilseed export inspections with corn, soybeans, and wheat all less than what’s needed to meet projections for their respective marketing years. The 2012/13 marketing year for wheat started June 1.
Wheat came out at 20.620 million bushels, down 1.762 million from the week ending June 7 and 507,000 lower than the week ending June 16, 2011. Early in the 2012/13 marketing year, wheat inspections are 43.002 million bushels, compared to 54.171 million in near the start of 2011/12.
Corn was reported at 24.729 million bushels, 7.235 million more than the previous week but 18.689 million less than this time last year. For the 2011/12 marketing year to date, corn inspections are 1.265 billion bushels, compared to 1.418 billion at this stage of 2010/11.
Soybeans were pegged at 7.897 million bushels, 8.449 million below the week before but 3.237 million above last year. So far this marketing year, soybean inspections are 1.191 billion bushels, compared to 1.410 billion a year ago.
Sorghum inspections totaled 163,000 bushels. That’s a decrease of 118,000 bushels from the prior week and a drop of 3.179 million from last year. 2011/12 sorghum inspections are 42.364 million bushels, compared to 123.521 million in 2010/11.