News
Export inspections below week ago, year ago levels
The USDA says that as of the week ending November 24th, 2022, corn, sorghum, soybean, and wheat export inspections are running behind the respective paces needed to meet projections for the marketing year. The 2022/23 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out December 9th.
Wheat came out at 198,519 tons, down 92,908 from the week ending November 17th and 192,252 from the week ending November 25th, 2021. The main destinations were Mexico and Ethiopia. Nearing the end of the first half of the 2022/23 marketing year, wheat inspections are 10,489,503 tons, compared to 10,904,295 in 2021/22.
Corn was reported at 302,350 tons, 196,718 lower than the previous week and 504,580 below this time last year. The leading destinations were Mexico and China. Late in the first quarter of the marketing year, corn inspections are 5,807,815 tons, compared to 8,633,608 a year ago.
Soybeans were pegged at 2,022,443 tons, 402,794 less than the prior week and 236,693 under a year ago. The top destinations were China and Germany. So far, this marketing year, soybean inspections are 19,248,392 tons, compared to 21,400,350 last year.
Sorghum totaled 3,068 tons, a drop of 50,597 on the week and 187,581 on the year. The lone listed destination was Mexico. 2022/23 sorghum inspections are 277,760 tons, compared to 944,338 in 2021/22.
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