Export inspections mostly down on week

The USDA says corn export inspections as of the week ending March 21st continue to move out ahead of the pace needed to meet projections for the current marketing year. The 2023/24 marketing year started June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out April 11th.

Wheat came out at 315,395 tons, down 79,084 from the week ending March 14th and 88,482 from the week ending March 23rd, 2023. The leading destinations were Mexico and the Dominican Republic. In the final quarter of the 2023/24 marketing year, wheat inspections are 14,166,669 tons, compared to 16,690,932 in 2022/23.

Corn was reported at 1,227,955 tons, 98,332 lower than the previous week, but 539,576 higher than a year ago. The main destinations were Mexico and Colombia. Early in the second half of the marketing year, corn inspections are 24,408,375 tons, compared to 18,271,082 this time last year.

Soybeans were pegged at 768,711 tons, 64,466 more than the prior week, but 124,232 less than last year. The top destinations were China and Mexico. So far, this marketing year, soybean inspections are 36,550,164 tons, compared to 44,956,654 a year ago.

Sorghum totaled 6,025 tons, a drop of 186,434 on the week and 171,331 on the year. The listed destinations were China and Japan. 2023/24 sorghum inspections 3,829,817 tons, compared to 1,092,018 in 2022/23.

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