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Another big week for soybean export inspections
U.S. wheat export inspections as of the week ending November 3rd are ahead of the pace needed to meet USDA 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, demand, and production estimates is out Wednesday, November 9th at Noon Eastern/11 Central.
Wheat came out at 180,991 tons, up 43,909 from the week ending October 27th, but down 71,049 from the week ending November 4th, 2021. The main destinations were the Philippines and Japan. Nearing the end of the first half of the 2022/23 marketing year, wheat inspections are 9,828,111 tons, compared to 9,920,116 in 2021/22.
Corn was reported at 231,458 tons, 214,235 lower than the previous week and 428,443 below a year ago. The leading destinations were Mexico and El Salvador. Approaching the second quarter of the marketing year, corn inspections are 4,447,613 tons, compared to 6,134,187 last year.
Soybeans were pegged at 2,591,127 tons, 4,899 more than the prior week, but 320,736 less than last year. The top destinations were China and Mexico. So far, this marketing year, soybean inspections are 12,812,726 tons, compared to 14,190,547 a year ago.
Sorghum totaled 4,671 tons, a decrease of 67,483 on the week and 3,027 on the year. The lone listed destination was Mexico. 2022/23 sorghum inspections are 217,940 tons, compared to 504,194 in 2021/22.
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