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Export inspections mostly lower on week, year

The USDA says corn, soybean, and wheat export inspections during the week ending December 28th, 2023 were slower than what’s needed to meet projections for the current marketing year. The 2023/24 marketing got underway June 1st, 2023 for wheat and September 1st, 2023 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out Friday, January 12th at Noon Eastern/11 Central.

Wheat came out at 273,671 tons, up 187,760 from the week ending December 21st, 2023, but down 188,299 from the week ending December 29th, 2022. The top destinations were the Philippines and China. In the second half of the 2023/24 marketing year, wheat inspections are 9,637,945 tons, compared to 11,892,478 in 2022/23.

Corn was reported at 569,735 tons, 657,504 lower than the previous week and 113,307 below this time last year. The leading destinations were Mexico and Japan. Early in the second quarter of the marketing year, corn inspections are 11,950,326 tons, compared to 9,600,289 a year ago.

Soybeans were pegged at 961,694 tons, a decrease of 156,053 from the week before and 514,989 from a year ago. The primary destinations were China and Italy. So far, this marketing year, soybean inspections are 23,261,441 tons, compared to 28,778,610 last year.

Sorghum totaled 111,922 tons, 148,783 less than the prior week, but 109,168 more than last year. The main destinations were China and Japan. 2023/24 sorghum inspections are 2,068,409 tons, compared to 407,014 in 2022/23.

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