Export inspections mostly above a week ago
The USDA says export inspections were mixed during the week ending June 29th, 2023. The 2023/24 marketing year started June 1st, 2023 for wheat, while 2022/23 kicked off September 1st, 2022 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out Wednesday, July 12th at Noon Eastern/11 Central.
Wheat came out at 336,349 tons, up 131,925 from the week ending June 22nd and 63,409 from the week ending June 30th, 2022. The top destinations were Brazil and Japan. Early in the 2023/24 marketing year, wheat inspections are 1,094,398 tons, compared to 1,612,768 in 2022/23.
Corn was reported at 642,900 tons, 92,389 higher than the previous week, but 233,829 lower than a year ago. The main destinations were Japan and Mexico. In the final quarter of the 2022/23 marketing year, corn inspections are 33,128,164 tons, compared to 48,304,669 in 2021/22.
Soybeans were pegged at 250,055 tons, 104,049 more than the prior week, but 197,959 less than a year ago. The leading destinations were Indonesia and Japan. So far, this marketing year, soybean inspections are 49,417,917 tons, compared to 51,884,119 this time last year.
Sorghum inspections totaled 9,110 tons, a decline of 54,436 on the week and 68,767 on the year. The listed destinations were Mozambique and Mexico. 2022/23 sorghum inspections are 1,582,871 tons, compared 6,767,008 in 2021/22.