Key customers show up in export inspections report
The USDA says three key trading partners led the way for export inspections during the week ending July 27th. The 2023/24 marketing year started June 1st, 2023 for wheat, while 2022/23 got underway September 1st, 2022 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out Friday, August 11th at Noon Eastern/11 Central.
Wheat came out at 581,278 tons, up 220,113 from the week ending July 20th and 299,204 from the week ending July 28th, 2022. The main destinations were China and Mexico. About two months into the 2023/24 marketing year, wheat inspections are 2,736,419 tons, compared to 2,873,922 in 2022/23.
Corn was reported at 522,927 tons, 193,154 higher than the previous week, but 382,996 lower than a year ago. The top destinations were Mexico and Japan. Nearing the end of the 2022/23 marketing year, corn inspections are 34,808,786 tons, compared to 51,985,840 in 2021/22.
Soybeans were pegged at 329,518 tons, 41,034 more than the prior week, but 265,440 less than last year. The primary destinations were Mexico and Japan. So far, this marketing year, soybean inspections are 50,512,061 tons, compared to 53,681,321 a year ago.
Sorghum totaled 71,013 tons, down 98,093 on the week and 21,006 on the year. The listed destinations were Mexico and China. 2022/23 sorghum inspections are 2,302,401 tons, compared to 7,237,171 in 2021/22.