Soybean export inspections up on week

The USDA says that as of the week ending May 25th, soybean and wheat export inspections are ahead of the respective paces need to meet projections for the current marketing year. The 2022/23 marketing year started June 1st, 2022 for wheat and September 1st, 2022 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out Friday, June 9th at Noon Eastern/11 Central.

Wheat came out at 382,031 tons, down 58,063 from the week ending May 18th, but up 37,712 from the week ending May 26th, 2022. The main destinations were Thailand and the Dominican Republic. With just a few reporting days remaining in the 2022/23 marketing year, wheat inspections are 19,557,889 tons, compared to 19,997,455 in 2021/22.

Corn was reported at 1,313,411 tons, 12,870 lower than the previous week and 98,837 under a year ago. The leading destinations were China and Japan. Closing in on the final quarter of the marketing year, corn inspections are 28,691,303 tons, compared to 42,308,082 last year.

Soybeans were pegged at 239,736 tons, 73,146 more than the prior week, but 164,614 less than last year. The top destinations were Indonesia and Mexico. So far, this marketing year, soybean inspections are 48,450,848 tons, compared to 49,550,493 a year ago.

Sorghum totaled 33,169 tons, a decrease of 82,879 on the week and 111,521 on the year. The listed destinations were Eritrea and Mexico. 2022/23 sorghum inspections are 1,669,067 tons, compared to 6,120,819 in 2021/22.

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