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China, Mexico big names in export inspections update
The USDA says that as of the week ending November 17th, wheat export inspections are slightly above what’s 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 December 9th.
Wheat came out at 279,904 tons, up 109,480 from the week ending November 10th and 86,715 from the week ending November 18th, 2021. The main destinations were Yemen and Mexico. Nearing the end of the first half of the 2022/23 marketing year, wheat inspections are 10,279,437 tons, compared to 10,513,524 in 2021/22.
Corn was reported at 495,395 tons, 40,021 lower than the previous week and 330,745 below a year ago. The leading destinations were Mexico and China. Late in the first quarter of the marketing year, corn inspections are 5,479,500 tons, compared to 7,824,218 this time last year.
Soybeans were pegged at 2,329,082 tons, 365,621 more than the prior week, but 187,273 less than last year. The top destinations were China and Mexico. So far, this marketing year, soybean inspections are 17,128,301 tons, compared to 19,141,214 a year ago.
Sorghum totaled 53,665 tons, an increase of 50,578 on the week, but a decrease of 185,321 on the year. The listed destinations were China and Mexico. 2022/23 sorghum inspections are 274,692 tons, compared to 753,689 in 2021/22.
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