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Corn, soybean export inspections up on year

 

 

The USDA reports export inspections as of the week ending May 31st, 2018 continue to show the impact of competition for global market share. The 2017/18 marketing year for wheat officially ended May 31st. The current marketing year for corn, soybeans, and sorghum runs through the end of August.

Wheat came out at 341,470 tons, down 104,239 from the week ending May 24th and 190,263 lower than the week ending June 1st, 2017. Just ahead of the absolute end of the 2017/18 marketing year, wheat inspections are 23,852,754 tons, compared to 27,491,617 late in 2016/17.

Corn was reported at 1,554,961 tons, 150,694 less than the previous week, but 377,854 more than this time last year. With slightly more than a quarter remaining in the marketing year, corn inspections are 39,578,067 tons, compared to 44,322,976 a year ago.

Soybeans were pegged at 557,733 tons, a decrease of 21,512 from the week before, but an increase of 269,638 from a year ago. At this point in the marketing year, soybean inspections are 46,795,868 tons, compared to 51,125,126 last year.

Sorghum totaled 432 tons, a decline of 25,411 on the week and 144,783 on the year. 2017/18 sorghum inspections are 4,619,705 tons, compared to 4,811,908 in 2016/17.