News

Soybean, wheat export inspections up on week

The USDA says that as of the week ending August 4^th, corn, soybean, and wheat export inspections are running behind the paces needed to meet projections for the current respective marketing years. The 2021/22 marketing year kicked off September 1^st, 2021 for beans, corn, and sorghum, while 2022/23 got underway June 1^st, 2022 for wheat. The USDA’s next set of supply and demand estimates is out Friday at Noon/Eastern 11 Central.

Wheat came out at 603,549 tons, up 295,216 from the week ending July 28^th, but down 50,420 from the week ending August 5^th, 2021. The main destinations were Mexico and Japan. At this stage of the 2022/23 marketing year, wheat inspections are 3,503,706 tons, compared to 4,445,076 in 2021/22.

Corn was reported at 555,620 tons, 349,673 lower than the previous week and 261,017 below a year ago. The leading destinations were China and Mexico. In the final month of the 2021/22 marketing year, corn inspections are 52,537,592 tons, compared to 63,909,709 late in 2020/21.

Soybeans were pegged at 867,504 tons, an increase of 272,546 from the week before and 752,639 from last year. The top destinations were China and Germany. So far, this marketing year, soybean inspections are 54,527,013 tons, compared to 58,475,270 a year ago.

Sorghum totaled 60,471 tons, a decrease of 31,548 on the week and 15,366 on the year. The listed destinations were China and Mexico. 2021/22 sorghum inspections are 7,297,642 tons, compared to 6,842,867 in 2020/21.