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U.S. export inspections mostly above a week ago
The USDA says that as of the week ending September 29th, corn export inspections are ahead of the pace needed to meet projections for the current marketing year. The 2022/23 marketing year started June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out October 12th.
Wheat came out at 667,577 tons, up 78,370 from the week ending September 22nd and 51,266 from the week ending September 30th, 2021. The leading destinations were the Philippines and China. At this point in the 2022/23 marketing year, wheat inspections are 8,516,273 tons, compared to 8,751,131 in 2021/22.
Corn was reported at 661,658 tons, 112,050 higher than the previous week, but 279,902 lower than this time last year. The top destinations were China and Mexico. Early this marketing year, corn inspections are 2,358,485 tons, compared to 2,268,889 a year ago.
Soybeans were pegged at 575,220 tons, 283,807 more than the prior week, but 274,336 less than a year ago. The main destinations were Germany and China. So far, this marketing year, soybean inspections are 1,781,273 tons, compared to 1,839,555 last year.
Sorghum totaled 5,531 tons, a decrease of 16,444 on the week and 72,220 on the year. The lone listed destination was Mexico. 2022/23 sorghum inspections are 83,878 tons, compared to 229,559 in 2021/22.
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