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Soybean export inspections show improvement

The USDA says soybean export inspections for the week ending October 11th showed a big improvement over recent weeks but remain behind projections for the 2018/19 marketing year as a Chinese tariff on U.S. soybeans continues to slow trade.

Wheat came out at 450,980 tons, up 3,419 from the week ending October 4th and 125,304 higher than the week ending October 12th, 2017. About a third of the way through the current marketing year, wheat inspections are 7,816,179 tons, compared to 10,650,513 this time last year.

Corn was reported at 996,643 tons, 388,136 less than the previous week, but 666,187 more than a year ago. Just over a month into 2018/19, corn inspections are 6,836,495 tons, compared to 3,912,310 in 2017/18.

Soybeans were pegged at 1,157,787 tons, 563,424 above the week before, but 628,156 below last year. So far, this marketing year, soybean inspections are 4,723,314 tons, compared to 7,250,492 a year ago.

Sorghum totaled 50,378 tons, a decrease of 12,402 on the week, but an increase of 48,844 on the year. 2018/19 sorghum inspections are 121,862 tons, compared to 370,313 in 2017/18.