USDA reports soybean export inspections for the week ending November 8 were larger than expected, wheat was within pre-report projections, and corn fell below analysts’ estimates. The numbers were delayed a day by Veteran’s Day.
Wheat came out at 10.458 million bushels, down 3.579 million bushels from the week ending November 1 and 2.417 million lower than the week ending November 10, 2011. For the 2012/13 marketing year to date, wheat inspections are 427.311 million bushels, compared to 488.819 million in 2011/12.
Corn was reported at 9.463 million bushels, 5.963 million less than the previous week and a decrease of 28.255 million bushels from this time last year. So far this marketing year, corn inspections are 168.204 million bushels, compared to 288.158 million a year ago.
Soybeans were pegged at 64.065 million bushels, up 4.096 million from the week before and 9.942 million higher than last year. At this point in the marketing year, soybean inspections are 434.246 million bushels, compared to 314.290 million a year ago.
Sorghum inspections totaled 2.586 million bushels. That’s an increase of 1.933 million bushels from the prior week and 1.604 million more than the year before. 2012/13 sorghum inspections are 22.281 million bushels, compared to 20.256 million in 2011/12.