Export inspections mostly down on week
The USDA says the week ending June 1st was mixed for export inspections. The 2023/24 marketing year for wheat started June 1st, 2023 while 2022/23 for corn, sorghum, and soybeans began September 1st, 2022. The USDA’s next set of supply and demand estimates is out Friday, June 9th.
Wheat came out at 291,599 tons, down 99,693 from the week ending June 25th and 63,741 from the week ending June 2nd, 2022. The main destinations were Mexico and the Philippines. At the start of the 2023/24 marketing year, wheat inspections are 57,691 tons, compared to 226,709 in 2022/23.
Corn was reported at 1,180,954 tons, 165,438 lower than the previous week and 277,565 below a year ago. The leading destinations were China and Mexico. At the outset of the final quarter of the 2022/23 marketing year, corn inspections are 29,907,786 tons, compared to 43,766,601 in 2021/22.
Soybeans were pegged at 214,247 tons, a decrease of 28,819 from the prior week, but an increase 6,294 from last year. The primary destinations were Germany and Mexico. So far, this marketing year, soybean inspections are 48,670,189 tons, compared to 49,920,537 a year ago.
Sorghum totaled 49,861 tons, 16,619 more than the week before, but 158,092 less than a year ago. The listed destinations were China and Mexico. 2022/23 sorghum inspections are 1,719,099 tons, compared to 6,328,772 in 2021/23.