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Good week for corn, wheat export inspections
The USDA says corn and wheat export inspections as of the week ending September 19th are ahead of what’s needed to meet projections for the current marketing year. The 2024/25 marketing year got underway June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out October 11th.
Wheat came out at 711,073 tons, up 122,288 from the week ending September 12th and 225,361 from the week ending September 21st, 2023. The main destinations were Ecuador and the Philippines. Early in the second quarter of the 2024/25 marketing year, wheat inspections are 7,684,956 tons, compared to 5,663,688 in 2022/23.
Corn was reported at 1,102,826 tons, 533,911 higher than the previous week and 392,221 above a year ago. The primary destinations were Mexico and Colombia. Just after the start of the marketing year, corn inspections are 2,143,252 tons, compared to 2,023,149 this time last year.
Soybeans were pegged at 485,216 tons, 11,940 more than the prior week, but 22,781 less than last year. The top destinations were China and the Netherlands. So far, this marketing year, soybean inspections are 1,232,080 tons, compared to 1,311,682 a year ago.
Sorghum totaled 78,970 tons, an increase of 11,587 on the week and 75,241 on the year. South Africa led the way, followed distantly by China. 2024/25 sorghum inspections are 150,269 tons, compared to 185,461 in 2023/24.
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