News

Solid week for corn, soybean export inspections

The USDA reports that as of the week ending May 4th, the pace of corn and soybean export inspections remains ahead of what’s needed to meet USDA projections for the 2016/17 marketing year. The current marketing year runs through the end of May for wheat and the end of August for corn, soybeans, and sorghum.

Wheat came out at 615,029 tons, up 25,590 from the week ending April 27th and 115,059 higher than the week ending May 5th, 2016. With about a month left in the 2016/17 marketing year for wheat, inspections are 25,015,744 tons, compared to 18,903,859 late in 2015/16.

Corn was reported at 720,586 tons, down 388,103 from the previous week and 427,569 lower than this time last year. For the marketing year to date, corn inspections are 39,181,086 tons, compared to 25,334,556 a year ago.

Soybeans were pegged at 349,385 tons, a decrease of 203,017 from the week before, but an increase of 204,325 from last year. So far this marketing year, soybean inspections are 49,792,229 tons, compared to 43,065,867 a year ago.

Sorghum inspections totaled 165,312 tons. That’s an increase of 49,701 tons on the week and 38,295 on the year. 2016/17 sorghum inspections are 4,374,400 tons, compared to 6,885,034 in 2015/16.