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Solid paces continue for corn, sorghum export inspections
The USDA says that as of the week ending February 15th, physical shipments of U.S. corn and sorghum to continue to move out faster than what’s needed to meet projections for the current marketing year. The 2023/24 marketing year got started June 1st, 2023 for wheat and September 1st, 2023 for corn, sorghum, and soybeans. The USDA’s set of supply and demand estimates is out March 8th.
Wheat came out at 380,774 tons, down 26,750 from the week ending February 8th, but up 6,347 from the week ending February 16th, 2023. The primary destinations were Japan and China. Closing in on the final quarter of the 2023/24 marketing year, wheat inspections are 12,091,334 tons, compared to 14,660,513 in 2022/23.
Corn was reported at 918,610 tons, 26,275 higher than the previous week and 294,815 above a year ago. The top destinations were Mexico and Japan. Late in the first half of the marketing year, corn inspections are 18,118,948 tons, compared to 13,736,678 this time last year.
Soybeans were pegged at 1,185,885 tons, 156,201 lower than the week before and 398,008 below last year. The main destinations were China and Mexico. So far, this marketing year, soybean inspections are 31,969,302 tons, compared to 41,393,182 a year ago.
Sorghum totaled 315,795 tons, an increase of 121,571 on the week and 243,990 on the year. The largest single destination was China, followed distantly by Mexico. 2023/24 sorghum inspections are 3,307,493 tons, compared to 569,444 in 2022/23.
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