Export inspections up on week
The USDA says that as of the week ending June 23rd, corn, soybean, and wheat export inspections remain behind the needed paces to meet projections for the current, respective, marketing years. The 2021/22 marketing year started September 1st, 2021 for beans, corn, and sorghum, while 2022/23 kicked off June 1st, 2022 for wheat. The USDA’s next set of supply and demand estimates is out July 12th.
Wheat came out at 352,404 tons, up 4,095 from the week ending June 16th and 61,001 from the week ending June 24th, 2021. The top destinations were Mexico and the Philippines. In the first month of the 2022/23 marketing year, wheat inspections are 1,339,338 tons, compared to 1,540,185 in 2021/22.
Corn was reported 1,246,014 tons, 53,863 higher than the previous week and 200,835 above a year ago. The main destinations were Japan and China. At this point in the final quarter of the 2021/22 marketing year, corn inspections are 47,416,406 tons, compared to 57,040,207 in 2020/21.
Soybeans were pegged at 468,309 tons, an increase of 39,987 from the week before and 357,059 from this time last year. The leading destinations were Germany and China. So far, this marketing year, soybean inspections are 51,372,809 tons, compared to 57,365,307 a year ago.
Sorghum totaled 148,647 tons, a jump of 77,232 on the week and 111,435 from a year ago. The largest single destination was China, followed distantly by Mexico. 2021/22 sorghum inspections are 6,689,082 tons, compared to 6,478,504 in 2020/21.