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Export inspections mostly up on week, down on year

The USDA says corn, sorghum, and wheat export inspections as of the week ending July 4th are ahead of what’s needed to meet projections for the current respective marketing years. The 2024/25 marketing year kicked off 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 341,005 tons, up 5,770 from the week ending June 27th, but down 78,421 from the week ending July 6th, 2023. The leading destinations were Japan and South Korea. Just over a month into the 2024/25 marketing year, wheat inspections are 1,729,768 tons, compared to 1,520,831 in 2023/24.

Corn was reported at 1,023,905 tons, 192,710 higher than the previous week and 648,259 above a year ago. The primary destinations were Mexico and Japan. In the final quarter of the 2023/24 marketing year, corn inspections are 43,513,106 tons, compared to 33,536,872 in 2022/23.

Soybeans were pegged at 273,321 tons, 46,507 lower than the week before and 27,542 below last year. The top destinations were Germany and Mexico, with a very small amount headed to China. So far, this marketing year, soybean inspections are 41,826,812 tons, compared to 49,733,215 a year ago.

Sorghum totaled 58,841 tons, 3,552 more than the prior week, but 11,237 less than a year ago. The main destinations were China and Mozambique. 2023/24 sorghum inspections are 5,258,584 tons, compared to 1,922,949 in 2022/23.

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