Market News

Another mixed week for grain and oilseed inspections

It was a mixed week for grain and oilseed export inspections, reflecting each commodity’s fundamental outlooks. Soybean inspections for the week ending April 30 were larger than expected, corn was within projections and wheat was below estimates.

Wheat cameout at 10.286 million bushels, down 3.14 million from the week ending April 23 and 11.279 million lower than the week ending May 1, 2008. At this point in the 2008/09 marketing year, wheat inspections are 920.072 million bushels, compared to 1.149 billion in 2007/08.

Cornwas reported at 30.170 million bushels, 4.121 million less than the previous week and 5.159 million under a year ago. For the marketing year to date, corn inspections are 1.109 billion bushels, compared to 1.686 billion last year at this time.

Soybeans were placed at 18.181million bushels, up 9.977 million from the prior week and 3.195 million higher than last year. So far this marketing year, soybean inspections are 1.020 billion bushels, compared to 924.578 million a year ago.

Sorghum totaled 2.754 million bushels. That's 250,000 belowthe week before but 168,000 above a year ago. 2008/09 sorghum inspections are 100.880 million bushels, compared to 225.941 million in 2007/08.