News

Soybean export inspections up sharply on week

The USDA says wheat export inspections as of the week ending October 13th are ahead of the pace need to meet projections for the current marketing year. The 2022/23 marketing year kicked off June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out November 9th.

Wheat came out at 231,842 tons, down 384,026 from the week ending October 6th, but up 89,993 from the week ending October 14th, 2021. The main destinations were Japan and Ethiopia. At this point in the 2022/23 marketing year, wheat inspections are 9,364,007 tons, compared to 9,339,876 in 2021/22.

Corn was reported at 448,423 tons, 8,943 lower than the previous week and 600,194 below a year ago. The top destinations were Mexico and China. For the marketing year to date, corn inspections are 3,286,228 tons, compared to 4,168,337 this time last year.

Soybeans were pegged at 1,882,386 tons, an increase of 905,509 from the prior week, but a decrease of 569,012 from last year. The primary destinations were China and Mexico. So far, this marketing year, soybean inspections are 4,669,685 tons, compared to 6,035,217 a year ago.

Sorghum totaled 5,124 tons, a drop of 15,541 on the week and 34,311 on the year. The lone listed destination was Mexico. 2022/23 sorghum inspections are 109,667 tons, compared to 339,298 in 2021/22.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!