Market News

Another mixed week for export inspections

It was a mixed week for grain and oilseed export inspections. According to the USDA, corn export inspections for the week ending July 9 were larger than expected, soybeans were within pre-report estimates and wheat was under projections.

Wheat came out at 9.628 million bushels, down 5.452 million from the week ending July 2 and 15.534 million lower than the week ending July 10, 2008. At this point in the 2009/10 marketing year, wheat inspections are 75.329 million bushels, compared to 114.584 million in 2008/09.

Corn was reported at 38.832 million bushels, up 4.496 million from the previous week and 10.265 million higher than a year ago. For the 2008/09 marketing year to date, corn inspections are 1.456 billion bushels, compared to 2.068 billion in 2007/08.

Soybeans were placed at 10.941 million bushels, 3.795 million below the week before but 1.389 million above last year at this time. So far this marketing year, soybean inspections are 1.157 billion bushels, compared to 1.047 billion a year ago.

Sorghum totaled 2.031 million bushels. That’s 1.391 million more than the week prior but 3,000 less than a year ago. 2008/09 sorghum inspections are 120.560 million bushels, compared to 254.162 million in 2007/08.