U.S. export inspections up on week
The USDA says soybean and wheat export inspections as of the week ending March 16th remain ahead of the respective paces needed to meet projections for the current marketing year. The 2022/23 marketing year got underway 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 April 11th.
Wheat came out at 374,224 tons, up 117,323 from the week ending March 9th and 39,156 from the week ending March 17th, 2022. The leading destinations were China and the Philippines. Early in the final quarter of the 2022/23 marketing year, wheat inspections are 16,286,008 tons, compared to 16,556,055 in 2021/22.
Corn was reported at 1,188,666 tons, 173,491 higher than the previous week, but 308,132 lower than a year ago. The main destinations were Mexico and Japan. In the back half of the marketing year, corn inspections are 17,523,428 tons, compared to 27,430,767 this time last year.
Soybeans were pegged at 716,618 tons, an increase of 83,251 from the week before and 159,976 from last year. The top destinations were China and Japan. So far, this marketing year, soybean inspections are 44,061,650 tons, compared to 42,836,015 a year ago.
Sorghum totaled 94,495 tons, 21,596 more than the prior week, but 241,837 less than a year ago. The primary destinations were China and Djibouti. 2022/23 sorghum inspections are 914,662 tons, compared to 3,823,817 in 2021/22.