Solid week for export inspections
The USDA reports corn, soybean, and wheat export inspections as of the week ending August 3rd remain ahead of what’s needed weekly to meet USDA projections for their respective marketing years. The 2016/17 marketing year for corn, soybeans, and sorghum runs through August and the 2017/18 marketing year for wheat started June 1st.
Wheat came out at 586,149 tons, up 1,646 from the week ending July 27th and 146,507 higher than the week ending August 4th, 2016. For the 2017/18 marketing year to date, wheat inspections are 5,611,586 tons, compared to 4,802,567 in 2016/17.
Corn was reported at 979,006 tons, down 14,039 from the previous week and 509,510 lower than this time last year. With roughly a month left in the 2016/17 marketing year, corn inspections are 53,838,868 tons, compared to 41,699,904 late in 2015/16.
Soybeans were pegged at 685,697 tons, 193,160 more than the prior week, but 329,482 less than a year ago. So far this marketing year, soybean inspections are 55,091,471 tons, compared to 47,828,398 last year.
Sorghum inspections totaled 105,951 tons. That’s a decrease of 116,702 tons on the week and 114,193 on the year. 2016/17 sorghum inspections are 5,633,848 tons, compared to 8,371,080 in 2015/16.
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