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Another mixed week for export inspections

The USDA says soybean export inspections during the week ending August 10th were in line with what’s needed to meet projections for the current 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 September 12th.

Wheat came out at 183,289 tons, down 109,675 from the week ending August 3rd and 207,002 from the week ending August 11th, 2022. The main destinations were Mexico and Japan. At this point in the 2023/24 marketing year, wheat inspections are 3,216,980 tons, compared to 3,899,933 in 2022/23.

Corn was reported at 398,269 tons, 10,296 higher than the previous week, but 141,067 lower than a year ago. The top destinations were Mexico and China. Nearing the end of the 2022/23 marketing year, corn inspections are 35,610,321 tons, compared to 53,080,796 in 2021/22.

Soybeans were pegged at 297,797 tons, a decrease of 13,420 from the week before and 470,531 from last year. The primary destinations were Germany and Mexico. So far, this marketing year, soybean inspections are 51,099,009 tons, compared to 55,320,994 a year ago.

Sorghum totaled 116,298 tons, an increase of 80,173 on the week and 55,566 on the year. The listed destinations were China and Mexico. 2022/23 sorghum inspections are 2,455,303 tons, compared to 7,358,374 in 2021/22.

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