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Export inspections mostly down on week, up on year

The USDA says that wheat export inspections for the week ending June 20th were more than what’s needed to meet projections for the current marketing year. The 2024/25 marketing year started June 1st for wheat, while 2023/24 got underway September 1st for corn, sorghum, and soybeans. The USDA’s next round of supply and demand estimates is out July 12th.

Wheat came out at 342,692 tons, down 37,372 from the week ending June 13th, but up 137,487 from the week ending June 22nd, 2023. The main destinations were Mexico and Japan. Less than a month into the 2024/25 marketing year, wheat inspections are 1,050,071 tons, compared to 759,230 in 2023/24.

Corn was reported at 1,117,698 tons, 263,105 lower than the previous week, but 567,114 higher than a year ago. The top destinations were Mexico and Japan. In the final quarter of 2023/24, corn inspections are 41,622,754 tons, compared to 32,485,337 in 2022/23.

Soybeans were pegged at 342,293 tons, an increase of 1,123 from the prior week and 196,189 from this time last year. The leading destinations were Egypt and Mexico. So far, this marketing year, soybean inspections are 41,226,072 tons, compared to 49,168,180 a year ago.

Sorghum totaled 1,109 tons, a decline of 725 on the week and 62,437 on the year. The listed destinations were Mexico and South Africa. 2023/24 sorghum inspections are 5,144,454 tons, compared to 1,843,761 in 2022/23.

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