Soybean, corn export inspections up on week
The USDA says corn, soybean, and wheat export inspections as of the week ending July 14th are running behind the paces needed to meet projections for the current respective marketing years. The 2021/22 marketing year got underway September 1st, 2021 for beans, corn, and sorghum, while 2022/23 started June 1st, 2022 for wheat. The USDA’s next set of supply and demand estimates is out August 12th.
Wheat came out at 185,989 tons, down 124,013 from the week ending July 7th and 349,909 from the week ending July 15th, 2021. The leading destinations were Yemen and Nigeria. About a month and a half into the 2022/23 marketing year, wheat inspections are 2,108,759 tons, compared to 2,870,678 in 2021/22.
Corn was reported at 1,073,972 tons, 139,439 higher than the previous week, but 2,696 lower than a year ago. The top destinations were China and Mexico. In the final quarter of the 2021/22 marketing year, corn inspections are 50,302,233 tons, compared to 60,370,800 in 2020/21.
Soybeans were pegged at 362,622 tons, 4,095 above the prior week and 218,688 larger than last year. The main destinations were China and Japan. So far, this marketing year, soybean inspections are 52,538,523 tons, compared to 57,929,605 a year ago.
Sorghum totaled 112,930 tons, a decrease of 71,095 on the week, but an increase of 49,055 on the year. The primary destinations were China and Eritrea. 2021/22 sorghum inspections are 7,063,963 tons, compared to 6,620,836 in 2020/21.