Wheat export inspections up on week, others down

The USDA says old crop corn and soybean export inspections as of the week ending July 6th are showing more signs of slowing down ahead of the end of the marketing year. The 2023/24 marketing year started June 1st, 2023 for wheat, while 2022/23 got underway September 1st, 2022 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out Wednesday, July 12th at Noon Eastern/11 Central.

Wheat came out at 419,134 tons, up 76,959 from the week ending June 29th and 109,132 from the week ending July 7th, 2022. The main destinations were the Philippines and Colombia. Just over a month into the 2023/24 marketing year, wheat inspections are 1,519,358 tons, compared to 1,922,770 in 2022/23.

Corn was reported at 341,024 tons, down 334,865 from the previous week and 593,876 from a year ago. The top destinations were Mexico and Japan. In the final quarter of the 2022/23 marketing year, corn inspections are 33,502,250 tons, compared to 49,239,569 in 2021/22.

Soybeans were pegged at 238,234 tons, 24,298 lower than the week before and 121,982 below last year. The leading destinations were Germany and Italy. So far, this marketing year, soybean inspections are 49,668,726 tons, compared to 52,244,335 a year ago.

Sorghum totaled 72 tons, a drop of 9,038 on the week and 183,953 on the year. The listed destinations were Mexico and Japan. 2022/23 sorghum inspections are 1,852,943 tons, compared to 6,951,033 in 2021/22.

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