News

Another solid week for corn export inspections

The USDA says that as of the week ending May 29^th, corn export inspections remain on pace to meet or exceed projections for the current marketing year. The 2024/25 marketing year began June 1^st for wheat and September 1^st for corn, sorghum, and soybeans. The USDA’s next round of supply and demand estimates is out June 12^th.

Wheat came out at 552,910 tons, down 10,059 from the week ending May 22^nd, but up 125,634 from the week ending May 30^th, 2024. The leading destinations were South Korea and the Philippines. With just a couple of reporting days remaining in the 2024/25 marketing year, wheat inspections are 21,825,997 tons, compared to 18,720,561 in 2023/24.

Corn was reported at 1,576,006 tons, 156,569 higher than the previous week and 159,518 above a year ago. The main destinations were Mexico and Japan. Entering the final quarter of the marketing year, corn inspections are 48,579,939 tons, compared to 37,793,477 this time last year.

Soybeans were pegged at 268,343 tons, 68,321 more than the prior week, but 92,874 less than last year. The top destinations were China and Bangladesh. So far, this marketing year, soybean inspections are 44,608,089 tons, compared to 40,309,329 a year ago.

Sorghum totaled 9,118 tons, a drop of 42,862 on the week and 58,732 on the year. The lone listed destination was Spain. 2024/25 sorghum inspections are 1,776,980 tons, compared to 4,962,114 in 2023/24.