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Export inspections mostly lower than last week

The USDA says corn export inspections for the week ending November 30th were in line with what’s needed weekly to meet projections for the current marketing year. The 2023/24 marketing year got underway June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s updated supply and demand estimates are out Friday at Noon Eastern/11 Central.

Wheat came out at 187,955 tons, down 100,503 from the week ending November 23rd and 153,719 from the week ending December 1st, 2022. The main destinations were Japan and the Philippines. At essentially the tail end of the first half of the 2023/24 marketing year, wheat inspections are 8,324,295 tons, compared to 10,917,134 in 2022/23.

Corn was reported at 1,158,086 tons, up 749,201 from the previous week and 324,476 from a year ago. The top destinations were Mexico and China. Late in the first quarter of the marketing year, corn inspections are 8,428,076 tons, compared to 6,650,733 this time last year.

Soybeans were pegged at 1,108,864 tons, a decrease of 464,265 from the week before and 972,801 from last year. The primary destinations were China and Spain. So far, this marketing year, soybean inspections are 18,691,912 tons, compared to 21,669,499 a year ago.

Sorghum totaled 117,797 tons, 162,735 less than the prior week, but 42,704 more than a year ago. The leading destinations were China and Mexico. 2023/24 sorghum inspections are 1,085,647 tons, compared to 352,853 in 2022/23.

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