USDA reports corn export inspections for the week ending November 15 were larger than expected, while soybeans and wheat were at the high end of pre-report estimates.
Wheat came out at 11.102 million bushels, up 644,000 from the week ending November 8 but down 2.619 million from the week ending November 17, 2011. At this point in the 2012/13 marketing year, wheat inspections are 438.413 million bushels, compared to 502.540 million in 2011/12.
Corn was reported at 14.350 million bushels, an increase of 4.887 million from the week before but a decrease of 23.496 million from this time last year. So far this marketing year, corn inspections are 182.558 million bushels, compared to 326.004 million a year ago.
Soybeans were pegged at 61.992 million bushels, 2.669 million lower than the previous week but 21.020 million higher than last year. At this point in the marketing year, soybean sales are 496.834 million bushels, compared to 355.262 million a year ago.
Sorghum inspections totaled 520,000 bushels. That’s 2.072 million bushels below the prior week and 450,000 less than a year ago. 2012/13 sorghum inspections are 22.807 million bushels, compared to 21.226 million in 2011/12.