Soybean, wheat export inspections up on week
The USDA says soybean export inspections as of January 26th remain ahead of the pace needed 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 February 8th.
Wheat came out at 445,433 tons, up 96,040 from the week ending January 19th and 69,689 from the week ending January 27th, 2022. The top destinations were Japan and Mexico. At this point in the 2022/23 marketing year, wheat inspections are 13,222,491 tons, compared to 13,615,944 in 2021/22.
Corn was reported at 527,932 tons, down 200,860 from the previous week and 508,047 from a year ago. The leading destinations were Mexico and China. For the marketing year to date, corn inspections are 12,038,862 tons, compared to 17,550,508 last year.
Soybeans were pegged at 1,855,293 tons, an increase of 16,576 from the week before and 437,491 from last year. The main destinations were China and Indonesia. So far, this marketing year, soybean inspections are 35,988,764 tons, compared to 36,449,799 a year ago.
Sorghum totaled 1,198 tons, a decrease of 71,376 on the week and 126,443 from a year ago. The lone listed destination was Mexico. 2022/23 sorghum inspections are 494,826 tons, compared to 2,277,551 in 2021/22.