News

Corn, soybean export inspections stay on needed pace

The USDA reports corn and soybean export inspections for the week ending June 1st remain ahead of the USDA’s projected demand increase for the 2016/17 marketing year. The 2016/17 marketing year for corn, soybeans, and sorghum runs through August. The 2017/18 marketing year for wheat started June 1st.

Wheat came out at 522,881 tons, down 81,624 from the week ending May 25th, but up 161,674 from the week ending June 2nd, 2016. At the outset of the 2017/18 marketing year for wheat, inspections are 86,259 tons, compared to 213,450 early in 2016/17.

Corn was reported at 1,177,107 tons, 17,622 lower than the previous week, but 109,521 higher than this time last year. For the 2016/17 marketing year to date, corn inspections are 44,320,100 tons, compared to 29,469,967 in 2015/16.

Soybeans were pegged at 277,298 tons, 73,221 less than the week before, but 178,920 more than a year ago. So far this marketing year, soybean inspections are 51,081,828 tons, compared to 43,668,752 last year.

Sorghum inspections totaled 144,456 tons. That’s an increase of 23,059 tons on the week and 78,426 on the year. 2016/17 sorghum inspections are 4,811,149 tons, compared to 7,159,348 in 2015/16.