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Wheat export inspections stay ahead of needed pace
The USDA says that wheat export inspections as of the week ending October 27th are ahead of what’s needed to meet projections for the 2022/23 marketing year. The current marketing year got underway June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s next set of supply, demand, and production estimates is out Wednesday, November 9th at Noon Eastern/11 Central.
Wheat came out at 137,082 tons, up 3,763 from the week ending October 20th and 6,361 from the week ending October 28th, 2021. The main destinations were Somalia and Mexico. At this point in the 2022/23 marketing year, wheat inspections are 9,645,874 tons, compared to 9,668,076 in 2021/22.
Corn was reported at 422,288 tons, down 50,306 from the previous week and 248,797 from a year ago. The leading destinations were China and Mexico. For the marketing year to date, corn inspections are 4,192,383 tons, compared to 5,474,286 this time last year.
Soybeans were pegged at 2,574,060 tons, a decrease of 347,645 from week before and 101,274 from last year. The top destinations were China and Mexico. So far, this marketing year, soybean inspections are 10,204,854 tons, compared to 11,278,684 a year ago.
Sorghum totaled 72,154 tons, 40,730 more than the prior week, but 4,954 less than a year ago. The largest destinations were Sudan and Kenya. 2022/23 sorghum inspections are 213,269 tons, compared to 496,496 in 2021/22.
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