USDA’s reporting another mixed week for grain and oilseed export inspections. Soybean inspections for the week ending July 5 were larger than expected with corn inside the anticipated range and wheat below all estimates. Beans were more than what’s needed weekly to meet USDA projections for the current marketing year but corn and wheat fell short of their respective marks.
Wheat came out at 14.898 million bushels, down 7.779 million from the week ending June 28 and 6.425 million lower than the week ending July 7, 2011. At this point in the 2012/13 marketing year, wheat inspections are 100.457 million bushels, compared to 124.810 million in 2011/12.
Corn was reported at 22.845 million bushels, 507,000 more than the previous week but 12.087 million less than last year at this time. For the 2011/12 marketing year to date, corn inspections are 1.344 billion bushels, compared to 1.521 billion in 2010/11.
Soybean inspections were pegged at 18.906 million bushels, up 4.272 million from the week before and 12.312 million higher than a year ago. So far this marketing year, soybean inspections are 1.235 billion bushels, compared to 1.431 billion last year.
Sorghum inspections totaled 432,000 bushels. That’s a decrease of 87,000 bushels from the prior week and a drop of 281,000 from a year ago. 2011/12 sorghum inspections are 43.561 million bushels, compared to 129.438 million in 2010/11.