Market News

Good week for wheat inspections

USDA reports wheat export inspections for the week ending April 4 were larger than expected, while soybeans were inside pre-report projections, and corn was below all analysts’ expectations.

Wheat came out at 27.161 million bushels, up 962,000 from the week ending March 28 and 9.302 million higher than the week ending April 5, 2012. For the 2012/13 marketing year to date, wheat inspections are 820.187 million bushels, compared to 845.881 million late in 2011/12.

Corn was reported at 10.098 million bushels, down 9.651 million from the previous week and 16.475 million lower than this time last year. So far this marketing year, corn inspections are 442.746 million bushels, compared to 980.565 million a year ago.

Soybeans were pegged at 15.251 million bushels, 1.486 million less than the prior week and 13.039 million below last year. At this point in the marketing year, soybean inspections are 1.226 billion bushels, compared to 1.042 billion a year ago.

Sorghum inspections totaled 127,000 bushels. That’s a decrease of 54,000 bushels on the week and 419,000 on the year. 2012/13 sorghum inspections are 51.858 million bushels, compared to 39.480 million in 2011/12.