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Export inspections mostly mixed

The USDA says corn, soybean, and wheat export inspections for the week ending June 6th fell short of what’s needed to meet projections for the current respective marketing years. The 2024/25 marketing year started June 1st for wheat, while 2023/24 kicked off September 1st for beans, corn, and sorghum. The USDA’s next round of supply and demand estimates is out Wednesday, June 12th at Noon Eastern/11 Central.

Wheat came out at 352,202 tons, down 74,074 from the week ending May 30th but up 104,244 from the week ending June 8th, 2023. The top destinations were the Philippines and Mexico. Just after the start of the 2024/25 marketing year, wheat inspections are 296,616 tons, compared to 318,450 early in 2023/24.

Corn was reported at 1,339,849 tons, 76,639 lower than the previous week, but 169,735 higher than a year ago. The main destinations were Mexico and Japan. Early in the final quarter of 2023/24, corn inspections are 39,123,347 tons, compared to 31,103,754 in 2022/23.

Soybeans were pegged at 231,002 tons, 130,215 less than the week before, but 83,357 more than last year. The primary destinations were Mexico and Germany. So far, this marketing year, soybean inspections are 40,538,570 tons, compared to 48,842,357 a year ago.

Sorghum totaled 179,397 tons, an increase of 111,547 on the week and 120,236 on the year. The leading destinations were China and Eritrea. 2023/24 sorghum inspections are 5,141,511 tons, compared to 1,778,921 in 2022/23.

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