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Grain, oilseed export inspections above last year
The USDA says that as of the week ending August 22nd, corn and wheat export inspections remain ahead of the paces needed to meet projections for the respective marketing years. The 2024/25 marketing year got underway June 1st for wheat, while 2023/24 started September 1st for corn, sorghum, and soybeans. The USDA’s next round of supply and demand estimates is out September 12th.
Wheat came out at 537,179 tons, up 164,472 from the week ending August 15th and 146,815 from the week ending August 24th, 2023. The main destinations were South Korea and Vietnam. Approaching the second quarter of the 2024/25 marketing year, wheat inspections are 5,146,113 tons, compared to 4,030,272 in 2023/24.
Corn was reported at 894,295 tons, 312,404 lower than the previous week, but 294,385 higher than a year ago. The top destinations were Mexico and Colombia. Nearing the end of the 2023/24 marketing year, corn inspections are 51,034,174 tons, compared to 36,781,551 late in 2022/23.
Soybeans were pegged at 411,165 tons, 5,537 above the week before and 84,928 more than this time last year. The primary destinations were Mexico and China. So far, this marketing year, soybean inspections are 44,203,159 tons, compared to 51,872,880 a year ago.
Sorghum totaled 114,618 tons, an increase of 7,115 on the week and 36,559 on the year. The largest destination was China, followed distantly by Mexico. 2023/24 sorghum inspections are 5,906,283 tons, compared to 2,591,295 in 2022/23.
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