Wheat exports bounced from last week up to 27.8 million bushels, still somewhat disappointing.

There is only 2 weeks left in the marketing year and USDA is not likely to make large adjustments to their export numbers in next months report.

Soybeans came in at a huge 28.8 million bushels, well above the level needed to meet the USDA forecast and a near record large soybean export number for mid-May.

Corn was disappointing at just 40.8 bushels, compared to exports near 60 million bushels last week, which was adjusted upward by over 3 million bushels.

Today’s corn export inspection number was disappointing and likely allowed corn to remain relatively quiet compared to the big rally in the wheat market.

Corn inspections were down from last week and below the level needed to reach USDA forecast.

So, todays export inspections were somewhat disappointing, but we expect to bounce back and be at or above the level needed on a consistent basis through May-June.

Soybean inspections were also down from last week, we are at a marketing year low of 18.5 million bushels but still consistently running above the year ago level.

We do expect our export inspections to be at or above the level needed to reach USDA export forecast on a consistent basis through the rest of the Summer.

Wheat inspections down to just 8.7 million bushels, that’s the lowest going back to the month of January.

We have been running below the level needed, but year to date inspections are down 20% and USDA is projecting that wheat exports will be down 20.9 and so with just 3 weeks left in the marketing year it appears that US exports of wheat could be fairly close to the estimate.

Corn inspections came in a little above 66 million bushels and we needed 62 to reach USDA forecast. So, this was a very good week in the corn exports last week.

Soybeans came in around 22 million bushels, that’s not a huge number and it was a little disappointing, but it is still at the level needed.

As we mentioned for about the last 3 months, we expect exports to be at or above the level needed on a fairly consistent basis going forward.