Market News

Weekly wheat inspections larger than expected

It was a mixed week for grain and oilseed export inspections. According to the USDA, wheat inspections for the week ending June 4 were larger than expected while soybeans were within estimates and corn was below pre-report projections.

2009/10 wheat inspections were reported at 17.454 million bushels, up 7.152 million from the week ending May 28 but down 2.016 million from the week ending June 5, 2008. Very early in the 2009/10 marketing year, wheat inspections are 10.082 million bushels, compared to 16.751 million early in 2008/09.

2008/09 corn inspections came out at 25.976 million bushels, 7.11 million less than the previous week and 13.576 million under last year. With around three months left in the current marketing year, corn inspections are 1.279 billion bushels, compared to 1.875 billion in 2007/08.

2008/09 soybean inspections were pegged at 7.982 million bushels, 1.437 million below the prior week but 3.243 million above a year ago. For the marketing year to date, soybean inspections are 1.088 billion bushels, compared to 979.831 million this time last year.

2008/09 sorghum inspections were placed at 884,000 bushels. That’s down 1.518 million bushels from the week before and 2.416 million lower than a year ago. 2008/09 sorghum inspections are 110.726 million bushels, compared to 245.566 million in 2007/08.