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Export inspections down on week
The USDA says that during the week ending June 16th, corn, soybean, and wheat export inspections were below what’s needed to meet projections for the current marketing year. The 2021/22 marketing year kicked off September 1st, 2021 for beans, corn, and sorghum, while 2022/23 got underway June 1st, 2022 for wheat. The USDA’s next set of supply and demand estimates is out July 12th.
Wheat came out at 331,328 tons, down 80,588 from the week ending June 9th and 223,384 from the week ending June 17th, 2021. The main destinations were the Philippines and Thailand. Early in the 2022/23 marketing year, wheat inspections are 969,953 tons, compared to 1,249,142 in 2021/22.
Corn was reported at 1,184,268 tons, 37,064 below the previous week and 591,448 under a year ago. The leading destinations were China and Mexico. In the final quarter of the 2021/22 marketing year, corn inspections are 46,162,509 tons, compared to 55,995,028 in 2020/21.
Soybeans were pegged at 427,344 tons, 180,772 less than the prior week, but 221,699 more than this time last year. The top destinations were Egypt and Mexico. So far, this marketing year, soybean inspections are 50,903,522 tons, compared to 57,254,057 a year ago.
Sorghum totaled 71,415 tons, a decrease of 68,833 on the week, but an increase of 53,037 on the year. The biggest single destination was China, followed distantly by Mexico. 2021/22 sorghum inspections are 6,540,435 tons, compared to 6,441,292 in 2020/21.
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