Market News

Wheat inspections top estimates

USDA reports wheat export inspections for the week ending April 10 were larger than expected, while corn and soybeans fell within pre-report estimates.

Wheat came out at 683,544 tons, up 57,140 from the week ending April 3 and 39,167 higher than the week ending April 11, 2013. For the 2013/14 marketing year to date, wheat inspections are 27,238,463 tons, compared to 23,000,928 in 2012/13.

Corn was reported at 1,448,812 tons, 138,248 above the previous week and 1,075,367 larger than this time last year. So far this marketing year, corn inspections are 25,170,478 tons, compared to 11,625,249 a year ago.

Soybeans were pegged at 267,939 tons, 241,388 less than the prior week, but 87,068 more than last year. At this point in the marketing year, soybean inspections are 40,944,918 tons, compared to 33,536,713 a year ago.

Sorghum inspections totaled 206,470 tons. That’s an increase of 172,611 tons on the week and 183,873 on the year. 2013/14 sorghum inspections are 2,543,570 tons, compared to 1,340,779 in 2012/13.