News

Sorghum, wheat export inspections up on week

The USDA says that as of the week ending November 16^th, corn and soybean export inspections are ahead of the paces needed to meet the respective projections for the current marketing year. The 2023/24 marketing year started June 1^st for wheat and September 1^st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out December 8^th.

Wheat came out at 358,254 tons, up 135,682 from the week ending November 9^th and 66,827 from the week ending November 17^th, 2022. The leading destinations were Taiwan and the Philippines. Late in the first half of the 2023/24 marketing year, wheat inspections are 7,817,489 tons, compared to 10,290,984 in 2022/23.

Corn was reported at 553,899 tons, 153,475 lower than the previous week, but 54,831 higher than a year ago. The top destinations were Mexico and Japan. Nearing the second quarter of the marketing year, corn inspections are 6,813,324 tons, compared to 5,505,465 this time last year.

Soybeans were pegged at 1,609,413 tons, a decrease of 330,666 from the week before and 884,266 from last year. The main destinations were China and Germany. So far, this marketing year, soybean inspections are 15,916,411 tons, compared to 17,358,390 a year ago.

Sorghum inspections totaled 116,550 tons, an increase of 36,639 on the week and 62,885 on the year. Most of that went to China, followed distantly by Mexico. 2023/24 sorghum inspections are 687,318 tons, compared to 274,692 in 2022/23.