Market News

Grain and oilseed inspections under expectations

It was a fairly poor week for grain and oilseed export inspections. Corn, soybeans and wheat export inspections for the week ending April 23 came in under pre-reportexpectations, in addition to being down on both the week and the year. Still, corn and wheat were just above what's needed weekly to meet the USDA's projection for the 2008/09 marketing year.

Wheat was reported at 12.142 million bushels, down 2.843 million from theweek ending April 16 and 7.347 million lower than the week ending April 24, 2008. For the 2008/09 marketing year to date, wheat inspections are 908.302 million bushels, compared to 1.127 billion in 2007/08.

Corn came out at 32.952 million bushels, 8.151 million less than theprior week and 3.593 million below a year ago. At this point in the marketing year, corn inspections are 1.078 billion bushels, compared to 1.650 billion last year at this time.

Soybeans were placed at 6.944 million bushels, 14.803 million under the previous week and down9.072 million from last year. So far this marketing year, soybean inspections are 1.001 billion bushels, compared to 909.592 million a year ago.

Sorghum totaled 2.574 million bushels. That's 1.362 million higher than the week before but 1.225 million lower than lastyear. 2008/09 sorghum inspections are 97.515 million bushels, compared to 223.355 million in 2007/08.