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Export inspections mixed on week
Wheat export inspections as of the week ending December 22nd are slightly 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 and demand estimates is out January 12th, 2023.
Wheat came out at 280,554 tons, down 23,554 from the week ending December 15th and 33,948 from the week ending December 23rd, 2021. The top destinations were Mexico and Thailand. Just over the halfway point of the 2022/23 marketing year, wheat inspections are 11,721,154 tons, compared to 11,970,059 in 2021/22.
Corn was reported at 856,606 tons, 29,651 higher than the previous week, but 97,882 lower than a year ago. The leading destinations were Mexico and China. Early in the second quarter of the marketing year, corn inspections are 8,842,530 tons, compared to 12,306,924 a year ago.
Soybeans were pegged at 1,753,085 tons, 210,237 less than the week before, but 1,732 more than a year ago. The main destinations were China and Germany. So far, this marketing year, soybean inspections are 27,132,746 tons, compared to 29,178,272 last year.
Sorghum totaled 43,164 tons, an increase of 39,211 on the week, but a decrease of 132,221 on the year. The largest reported destination was Eritrea, followed by Japan and Mexico. 2022/23 sorghum inspections are 404,138 tons, compared to 1,727,388 in 2021/22.
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