News

Export inspections reflect holiday week

The USDA says that as of the week ending December 29^th, 2022, U.S. wheat export inspections are in-line with the pace needed to meet projections for the current marketing year. The 2022/23 marketing year started June 1^st, 2022 for wheat and September 1^st, 2022 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out January 12^th.

Wheat came out at 85,672 tons, down 228,035 from the week ending December 22^nd, 2022 and 144,689 from the week ending December 30^th, 2021. The listed destinations were Mexico and Italy. In the back half of the 2022/23 marketing year, wheat inspections are 11,839,979 tons, compared to 12,200,420 in 2021/22.

Corn was reported at 667,010 tons, 255,132 lower than the previous week and 92,553 below a year ago. The main destinations were China and Mexico. At this point in the marketing year, corn inspections are 9,584,257 tons, compared to 13,066,487 last year.

Soybeans were pegged at 1,462,882 tons, a decrease of 312,017 on the week and 153,136 on the year. The leading destinations were China and Mexico. So far, this marketing year, soybean inspections are 28,617,907 tons, compared to 30,794,290 a year ago.

Sorghum totaled 2,754 tons, 40,410 less than the prior week, but 803 more than a year ago. The sold reported destination was Mexico. 2022/23 sorghum inspections are 406,892 tons, compared to 1,729,339 in 2021/22.