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Soybean, wheat export inspections up on week
The USDA says that as of the week ending June 9th, corn, soybean, and wheat inspections were less than what’s needed to meet projections for the respective marketing years. The 2021/22 marketing year started September 1st, 2021 for beans and corn and 2022/23 got underway June 1st, 2022 for wheat. The USDA’s next set of supply and demand estimates is out July 12th.
Wheat came out at 388,847 tons, up 33,507 from the week ending June 2nd, but down 111,098 from the week ending June 10th, 2021. The main destinations were Mexico and Japan. Early in the 2022/23 marketing year, wheat inspections are 615,556 tons, compared to 694,430 in 2021/22.
Corn was reported at 1,199,976 tons, a decrease of 258,543 from the previous week and 411,012 from a year ago. The leading destinations were China and Mexico. In the final quarter of the marketing year, corn inspections are 44,956,885 tons, compared to 54,219,312 this time last year.
Soybeans were pegged at 605,129 tons, an increase of 239,674 from the prior week and 463,809 from last year. The top destinations were Mexico and Japan. So far, this marketing year, soybean inspections are 50,473,191 tons, compared to 57,048,412 a year ago.
Sorghum totaled 140,003 tons, a decline of 67,950 on the week and 11,282 on the year. The biggest single destination was China, followed by Mexico. 2021/22 sorghum inspections are 6,468,775 tons, compared to 6,422,914 in 2020/21.
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