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Export inspections mostly lower than last week
The USDA says the pace of soybean export inspections as of the week ending April 14th remain ahead of what’s needed to meet projections for the current marketing year. The 2022/23 marketing year started June 1st, 2022 for wheat and September 1st, 2022 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out May 12th.
Wheat came out at 239,907 tons, down 149,438 from the week ending April 6th and 206,318 from the week ending April 14th, 2022. The main destinations were Mexico and Thailand. With about a month and a half remaining in the 2022/23 marketing year, wheat inspections are 17,488,727 tons, compared to 18,083,542 in 2021/22.
Corn was reported at 1,215,221 tons, up 376,056 from the previous week and 32,400 from a year ago. The leading destinations were Mexico and Japan. In the back half of the marketing year, corn inspections are 21,423,929 tons, compared to 33,243,361 this time last year.
Soybeans were pegged at 523,376 tons, a decline of 154,662 from the week before and 484,950 from last year. The top destinations were China and Germany. So far, this marketing year, soybean inspections are 46,667,363 tons, compared to 46,039,346 a year ago.
Sorghum totaled 57,763 tons, a decrease of 32,868 on the week and 265,704 on the year. The lone listed destination was China. 2022/23 sorghum inspections are 1,249,671 tons, compared to 4,919,896 in 2021/22.
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