News

Solid week for sorghum, soybean inspections

The USDA says sorghum and soybean export inspections for the week ending October 31^st were above what’s needed to meet projections for the current marketing year. The 2024/25 marketing year started June 1^st for wheat and September 1^st for beans, corn, and sorghum. The USDA’s updated supply, demand, and production report is out Friday, November 8^th at Noon Eastern/11 Central.

Wheat came out at 193,523 tons, down 101,134 from the week ending October 24^th, but up 79,205 from the week ending November 2^nd, 2023. The top destinations were the Philippines and South Korea. For the 2024/25 marketing year to date, wheat inspections are 9,750,996 tons, compared to 7,236,663 in 2023/24.

Corn was reported at 779,078 tons, 61,357 lower than the previous week, but 204,520 higher than a year ago. The primary destinations were Mexico and Japan. At this point in the marketing year, corn inspections are 7,423,217 tons, compared to 5,552,051 this time last year.

Soybeans were pegged at 2,158,646 tons, 469,793 less than the prior week, but 24,727 more than last year. The leading destinations were China and Mexico. So far, this marketing year, soybean inspections are 12,799,577 tons, compared to 12,366,821 a year ago.

Sorghum totaled 67,026 tons, an increase of 61,672 on the week and 26,617 on the year. The largest destination was China, followed distantly by Mexico. 2024/25 sorghum inspections are 539,667 tons, compared to 490,857 in 2023/24.