Solid week for soybean inspections

USDA reports soybean export inspections for the week ending June 12 were larger than expected, while corn was within pre-report projections and wheat was below all estimates.

Wheat came out at 396,437 tons, down 122,926 from the week ending June 5 and 191,241 lower than the week ending June 13, 2013. Early in the 2014/15 marketing year, wheat inspections are 751,318 tons, compared to 1,137,855 near the start of 2013/14.

Corn was reported at 1,102,514 tons, 50,621 less than the previous week, but 743,321 more than this time last year. At this point in the 2013/14 marketing year, corn inspections are 35,932,592 tons, compared to 14,246,384 in 2012/13.

Soybeans were pegged at 215,619 tons, up 91,377 from the week before and 139,955 higher than a year ago. For the marketing year to date, soybean inspections are 42,460,019 tons, compared to 34,675,571 last year.

Sorghum inspections totaled 11,827 tons. That’s a decrease of 55,634 tons on the week, but an increase of 10,913 on the year. 2013/14 sorghum inspections are 3,502,023 tons, compared to 1,447,797 in 2012/13.

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