Good week for corn, soybean export inspections
The USDA reports corn and soybean export inspections for the week ending May 11th were more than what’s needed to meet USDA projections for the 2016/17 marketing year. The 2016/17 marketing year runs through the end of May for wheat and the end of August for corn, soybeans, and sorghum.
Wheat came out at 691,226 tons, up 33,044 from the week ending May 4th and 321,848 higher than the week ending May 12th, 2016. Nearing the end of the 2016/17 marketing year, wheat inspections are 25,750,466 tons, compared to 19,273,237 late in 2015/16.
Corn was reported at 1,395,853 tons, a jump of 552,613 from the previous week and 262,391 above this time last year. At this point in the marketing year, corn inspections are 40,721,946 tons, compared to 26,468,018 a year ago.
Soybeans were pegged at 281,465 tons, 89,790 less than the week before, but 70,409 more than last year. So far this marketing year, soybean inspections are 50,096,298 tons, compared to 43,276,923 a year ago.
Sorghum inspections totaled 67,336 tons. That’s down 130,098 tons on the week and 22,667 on the year. 2016/17 sorghum inspections are 4,473,858 tons, compared to 6,975,037 in 2015/16.
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