Market News

Soybean inspections top 2.2 million tons

USDA reports soybean export inspections for the week ending December 18 were larger than what’s needed weekly to meet USDA projections for the 2014/15 marketing year, but corn and wheat fell short of their respective marks.

Wheat came out at 422,055 tons, up 19,713 from the week ending December 11, but down 108,895 from the week ending December 19, 2013. For the 2014/15 marketing year to date, wheat inspections are 13,261,599 tons, compared to 19,487,762 in 2013/14.

Corn was reported at 790,415 tons, 225,505 higher than the previous week, but 167,233 lower than this time last year. So far this marketing year, corn inspections are 10,986,545 tons, compared to 10,782,828 a year ago.

Soybeans were pegged at 2,234,262 tons, 350,452 more than the week before and 729,799 above last year. At this point in the marketing year, soybean sales are 27,866,000 tons, compared to 22,383,470 a year ago.

Sorghum inspections totaled 166,342 tons. That’s a decrease of 65,565 tons on the week, but an increase of 162,328 on the year. 2014/15 sorghum inspections are 2,706,129 tons, compared to 933,418 in 2013/14.