Market News

Export inspections fall below expectations

USDA reports corn, soybean, and wheat export inspections for the week ending December 26 were below pre-report estimates.

Wheat came out at 13.396 million bushels, down 6.114 million from the week ending December 19, but up 5.633 million from the week ending December 27, 2012. For the 2013/14 marketing year to date, wheat inspections are 729.444 million bushels, compared to 515.382 million in 2012/13.

Corn was reported at 24.908 million bushels, 12.347 million lower than the previous week, but 16.861 million higher than this time last year. So far this marketing year, corn inspections are 448.820 million bushels, compared 255.802 million a year ago.

Soybeans were pegged at 43.182 million bushels, 12.098 million less than the week before, but 7.257 million more than last year. At this point in the marketing year, soybean inspections are 865.576 million bushels, compared to 779.941 million a year ago.

Sorghum inspections totaled 3.237 million bushels. That’s an increase of 3.079 million bushels on the week and 2.858 million on the year. 2013/14 sorghum inspections are 40.008 million bushels, compared to 32.385 million in 2012/13.