Market News

Quiet week for export inspections

USDA reports soybean export inspections for the week ending July 10 were slightly larger than expected, while corn and wheat were within pre-report estimates. All three were less than what’s needed weekly to meet USDA projections for the respective marketing years.

Wheat came out at 377,520 tons, down 92,852 from the week ending July 3 and 290,106 lower than the week ending July 11, 2013. For the 2014/15 marketing year to date, wheat inspections are 2,697,972 tons, compared to 3,750,356 in 2013/14.

Corn was reported at 926,329 tons, 337,338 less than the previous week, but 511,417 more than this time last year. At this point in the 2013/14 marketing year, corn inspections are 40,051,018 tons, compared to 15,398,274 in 2012/13.

Soybeans were pegged at 115,280 tons, up 22,582 from the week before and 15,110 higher than a year ago. So far this marketing year, soybean inspections are 42,810,027 tons, compared to 35,190,268 last year.

Sorghum inspections totaled 204,680 tons. That’s an increase of 139,629 tons on the week and 199,556 on the year. 2013/14 sorghum inspections are 3,839,351 tons, compared to 1,500,103 in 2012/13.

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