Good week for export inspections
USDA’s export inspections report for the week ending April 12 shows corn and wheat above pre-report expectations and soybeans below all estimates. Inspections of corn, soybeans, and wheat were all above what’s needed weekly to meet USDA projections for the 2011/12 marketing year. The numbers, normally out Mondays at 10 AM Central, were delayed by a USDA server outage.
Wheat came out at 25.745 million bushels, up 8.034 million from the week ending April 5 but down 12.298 million from the week ending April 14, 2011. With less than two months left in the 2011/12 marketing year, wheat inspections are 870.563 million bushels, compared to 1.065 billion in 2010/11.
Corn was reported at 42.875 million bushels, 16.302 million higher than the previous week and 3.866 million more than a year ago. So far this marketing year, corn inspections are 1.023 billion bushels, compared to 1.085 billion this time last year.
Soybeans were pegged at 18.065 million bushels, 9.798 million below the week before but 2.099 million above last year. For the marketing year to date, soybean inspections are 1.060 billion bushels, compared to 1.339 billion a year ago.
Sorghum inspections totaled 166,000 bushels. That’s a decrease of 380,000 bushels from the prior week and a drop of 5.438 million from a year ago. 2011/12 sorghum inspections are 39.646 million bushels, compared to 96.592 million in 2010/11.
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