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U.S. export inspections mostly up on week
The USDA says that as of the week ending May 18th, U.S. wheat export inspections are in-line to meet projections for the current marketing year. The 2022/23 marketing year started June 1st, 2022 for wheat and September 1st, 2022 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out June 9th.
Wheat came out at 407,682 tons, up 144,243 from the week ending May 11th and 132,141 from the week ending May 19th, 2022. The main destinations were Mexico and China. Late in the 2022/23 marketing year, wheat inspections are 19,143,446 tons, compared to 19,653,136 towards the end of 2021/22.
Corn was reported at 1,323,117 tons, 149,334 higher than the previous week, but 429,344 lower than a year ago. The leading destinations were Japan and China. Approaching the final quarter of the marketing year, corn inspections are 27,374,728 tons, compared to 40,895,834 last year.
Soybeans were pegged at 115,051 tons, 31,736 under the week before and 467,289 below last year. The top destinations were Japan and Mexico. So far, this marketing year, soybean inspections are 48,199,475 tons, compared to 49,146,834 a year ago.
Sorghum totaled 116,048 tons, 62,293 more than the prior week, but 83,240 less than a year ago. China was the primary destination, followed distantly by Mexico. 2022/23 sorghum inspections are 1,635,898 tons, compared to 5,976,129 in 2021/22.
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