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Generally slow week for U.S. export inspections
The USDA says corn, soybean, and wheat export inspections as of the week ending January 23rd remain ahead of the respective paces needed to meet projections for the current marketing year. The 2024/25 marketing year kicked off June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out February 11th.
Wheat came out at 484,544 tons, up 222,758 from the week ending January 16th and 200,755 from the week ending January 25th, 2024. The primary destinations were Japan and South Korea. At this point in the 2024/25 marketing year, wheat inspections are 13,763,713 tons, compared to 11,007,496 in 2023/24.
Corn was reported at 1,247,004 tons, 295,325 lower than the previous week, but 320,655 higher than a year ago. The leading destinations were Japan and Mexico. For the marketing year to date, corn inspections are 20,496,526 tons, compared to 15,672,488 this time last year.
Soybeans were pegged at 729,362 tons, 249,928 below the week before and 184,135 less than last year. The main destinations were China and Turkey. So far, this marketing year, soybean inspections are 33,033,586 tons, compared to 37,690,553 a year ago.
Sorghum totaled 887 tons, dropping 8,537 on the week and 62,432 on the year. The listed destinations were Mexico and Japan. 2024/25 sorghum inspections are 1,382,306 tons, compared to 2,681,831 in 2023/24.
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