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Export inspections mostly up on week
The USDA says that as of the week ending December 1st, wheat export inspections are running slightly ahead of the pace needed to meet 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 Friday, December 9th at Noon Eastern/11 Central.
Wheat came out at 334,653 tons, up 50,177 from the week ending November 24th and 86,100 from the week ending December 2nd, 2021. The main destinations were the Philippines and Mexico. Early in the back half of the 2022/23 marketing year, wheat inspections are 10,910,113 tons, compared to 11,152,848 in 2021/22.
Corn was reported at 524,313 tons, 212,655 higher than the previous week, but 262,560 lower than a year ago. The leading destinations were China and Mexico. Starting the second quarter of the marketing year, corn inspections are 6,341,436 tons, compared to 9,420,481 this time last year.
Soybeans were pegged at 1,721,828 tons, a decrease of 505,120 from week before and 647,318 from last year. The top destinations were China and Indonesia. So far, this marketing year, soybean inspections are 21,175,728 tons, compared to 23,769,496 a year ago.
Sorghum totaled 75,093 tons, 72,025 more than the prior week, but 94,553 less than a year ago. The listed destinations were China and Mexico. 2022/23 sorghum inspections are 352,853 tons, compared to 1,113,964 in 2021/22.
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