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Wheat, sorghum export inspections up on week
The USDA says soybean export inspections as of the week ending October 26th continue to run ahead of what’s needed to meet projections for the current marketing year. The 2023/24 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out November 9th.
Wheat came out at 189,842 tons, up 20,362 from the week ending October 19th and 52,760 from the week ending October 27th, 2022. The main destinations were the Philippines and Chile. At this point in the 2023/24 marketing year, wheat inspections are 7,113,889 tons, compared to 9,647,120 in 2022/23.
Corn was reported at 531,516 tons, 82,255 more than the previous week and 85,823 above a year ago. The top destinations were Mexico and Japan. For the marketing year to date, corn inspections are 4,945,072 tons, compared to 4,216,155 this time last year.
Soybeans were pegged at 1,890,227 tons, down 735,466 from the prior week and 696,001 from last year. The leading destinations were China and Mexico. So far, this marketing year, soybean inspections are 9,949,392 tons, compared to 10,226,606 a year ago.
Sorghum totaled 65,568 tons, 62,084 higher than the week before, but 6,586 lower than a year ago. The listed destinations were China and Mexico. 2023/24 sorghum inspections are 450,424 tons, compared to 213,269 in 2022/23.
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