Sorghum export inspections up on week, year
The USDA says that for the week ending August 24th, U.S. corn export inspections were above the mark to meet USDA projections for the current marketing year, while soybeans were in line with the needed pace. The 2023/24 marketing year kicked off June 1st, 2023 for wheat, while 2022/23 started September 1st, 2022 for beans, corn, and sorghum. The USDA’s updated supply and demand estimates are out September 12th.
Wheat came out at 390,364 tons, up 79,050 from the week ending August 17th, but down 240,872 from the week ending August 25th, 2022. The main destinations were the Philippines and Japan. Nearly a quarter into the 2023/24 marketing year, wheat inspections are 4,030,272 tons, compared to 5,125,532 in 2022/23.
Corn was reported at 597,144 tons, 86,585 higher than the previous week, but 102,685 lower than a year ago. The top destinations were Mexico and Colombia. Shortly before the end of the 2022/23 marketing year, corn inspections are 36,778,785 tons, compared to 54,602,158 late in 2021/22.
Soybeans were pegged at 322,149 tons, 1,718 more than the prior week, but 240,962 less than last year. The leading destinations were China and Mexico. So far, this marketing year, soybean inspections are 51,868,743 tons, compared to 56,517,890 a year ago.
Sorghum totaled 77,863 tons, an increase of 19,930 on the week and 55,392 on the year. The primary destinations were China and Malaysia. 2022/23 sorghum inspections are 2,591,099 tons, compared to 7,424,226 in 2021/22.