Solid week for export inspections
The USDA reports corn, soybean, and wheat export inspections as of the week ending July 7th remain ahead of what’s needed to meet projections for their respective marketing years.
Wheat came out at 533,872 tons, up 15,373 from the week ending June 29th and 154,146 higher than the week ending July 7th, 2016. A little more than a month into the 2017/18 marketing year, wheat inspections are 3,340,523 tons, compared to 2,657,584 in 2016/17.
Corn was reported at 1,010,889 tons, down 128,695 from the previous week and 348,997 lower than this time last year. With less than a quarter left in the 2016/17 marketing year, corn inspections are 49,752,410 tons, compared to 36,418,865 in 2015/16.
Soybeans were pegged at 475,157 tons, 194,119 more than the prior week and 84,802 above a year ago. So far this marketing year, soybean inspections are 52,996,826 tons, compared to 45,012,465 last year.
Sorghum inspections totaled 112,046 tons. That’s an increase of 95,863 tons on the week, but a decrease of 12,014 on the year. 2016/17 sorghum inspections are 5,136,986 tons, compared to 7,696,430 in 2015/16.
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