Market News

Slow week for export inspections

USDA reports corn, soybean, and wheat export inspections for the week ending November 29 were all below pre-report estimates.

Wheat came out at 14.186 million bushels, up 6.064 million from the week ending November 22 but down 400,000 from the week ending December 1, 2011. For the 2012/13 marketing year to date, wheat inspections are 460.995 million bushels, compared to 533.620 million in 2011/12.

Corn was reported at 9.626 million bushels, 6.442 million lower than the previous week and 29.317 million less than last year at this time. So far this marketing year, corn inspections are 208.327 million bushels, compared to 401.033 million a year ago.

Soybeans were pegged at 51.082 million bushels, 4.496 million higher than the week before and 19.032 million more than last year. At this point in the marketing year, soybean inspections are 600.335 million bushels, compared to 429.130 million a year ago.

Sorghum inspections totaled 2.828 million bushels. That’s 850,000 bushels above the prior week and an increase of 2.085 million on the year. 2012/13 sorghum inspections are 27.613 million bushels, compared to 22.784 million in 2011/12.

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