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Corn, wheat export inspections up on week, year
The USDA says that as of the week ending July 11th, corn, sorghum, and wheat export inspections remain ahead of the pace needed to meet projections for the current marketing year. The 2024/25 marketing year got underway June 1st for wheat, while 2023/24 started September 1st for corn, sorghum, and soybeans. The USDA’s next supply and demand update is out August 12th.
Wheat came out at 533,828 tons, up 190,469 from the week ending July 4th and 260,385 from the week ending July 13th, 2023. The main destinations were Mexico and Taiwan. Just over a month into the 2024/25 marketing year, wheat inspections are 2,266,366 tons, compared to 1,794,274 in 2022/23.
Corn was reported at 1,078,911 tons, 55,006 higher than the previous week and 659,697 above a year ago. The top destinations were Mexico and Taiwan. Nearing the end of the 2023/24 marketing year, corn inspections are 44,592,041 tons, compared to 33,956,086 in 2022/23.
Soybeans were pegged at 168,593 tons, 125,616 less than the prior week, but 7,749 more than this time last year. The leading destinations were Mexico and South Korea. So far, this marketing year, soybean inspections are 42,016,293 tons, compared to 49,894,059 a year ago.
Sorghum totaled 70,614 tons, an increase of 11,773 on the week, but a decrease of 68,719 on the year. The listed destinations were China and Mexico. 2023/24 sorghum inspections are 5,329,198 tons, compared to 2,062,282 in 2022/23.
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