News

Slow pace continues for corn, soybean inspections

 

The USDA reports corn and soybean export inspections as of the week ending March 15th remain behind the pace needed to meet projections for the 2017/18 marketing year. The current marketing year runs through May for wheat and August for beans, corn, and sorghum.

Wheat came out at 443,269 tons, up 14,454 from the week ending March 8th, but down 207,610 tons from the week ending March 16th, 2017. With less than a quarter left in the 2017/18 marketing year, wheat inspections are 19,135,024 tons, compared to 20,714,873 late in 2016/17.

Corn was reported at 1,409,281 tons, 32,037 higher than the previous week and 51,292 more than this time last year. Just over halfway through the marketing year, corn inspections are 21,732,957 tons, compared to 30,282,814 a year ago.

Soybeans were pegged at 490,536 tons, 439,564 lower than the week before and 253,525 less than a year ago. At this point in the marketing year, soybean inspections are 40,219,615 tons, compared to 45,799,822 last year.

Sorghum totaled 248,263 tons. That’s an increase of 53,724 tons on the week and 188,286 on the year. 2017/18 sorghum inspections are 3,429,369 tons, compared to 3,438,423 in 2016/17.