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Export inspections down on year
Export inspections for the week ending June 22nd reflect the generally steady to slow global demand for U.S. commodities. The 2023/24 marketing year started June 1st, 2023 for wheat and 2022/23 got underway September 1st, 2022 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out July 12th.
Wheat came out at 203,724 tons, down 31,451 from the week ending June 15th and 149,170 from the week ending June 23rd, 2022. The main destinations were Yemen and Japan. Early in the 2023/24 marketing year, wheat inspections are 757,349 tons, compared to 1,339,828 in 2022/23.
Corn was reported at 542,727 tons, 306,272 lower than the previous week and 704,223 below a year ago. The leading destinations were Mexico and Japan. In the final quarter of the 2022/23 marketing year, corn inspections are 32,477,480 tons, compared to 47,427,940 in 2021/22.
Soybeans were pegged at 141,158 tons, a decrease of 38,390 on the week and 335,793 on the year. The top destinations were Mexico and Japan. So far, this marketing year, soybean inspections are 49,165,385 tons, compared to 51,436,105 a year ago.
Sorghum totaled 63,546 tons, 62,252 more than the prior week, but 85,150 less than a year ago. The largest destination was China, followed distantly by Mexico. 2022/23 sorghum inspections are 1,843,761 tons, compared to 6,689,131 in 2021/22.
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