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Good week for soybean, wheat inspections

USDA reports soybean and wheat export inspections for the week ending February 14 were larger than expected, while corn was within pre-report estimates.

Wheat came out at 30.335 million bushels, up 7.078 million from the week ending February 7 and 7.861 million higher than the week ending February 16, 2012. For the 2012/13 marketing year to date, wheat inspections are 653.646 million bushels, compared to 716.122 million in 2011/12.

Corn was reported at 9.500 million bushels, down 5.315 million from the previous week and 25.351 million lower than this time last year. So far this marketing year, corn inspections are 336.502 million bushels, compared to 776.110 million a year ago.

Soybeans were pegged at 40.384 million bushels, 9.578 million above the prior week and 1.912 million more than last year. At this point in the marketing year, soybean inspections are 1.079 billion bushels, compared to 835.845 million a year ago.

Sorghum inspections totaled 3.090 million bushels. That’s an increase of 1.966 million bushels on the week and 2.761 million bushels on the year. 2012/13 sorghum inspections are 43.317 million bushels, compared to 33.662 million in 2011/12.

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