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Sorghum, soybean export inspections up on week

The USDA says that as of the week ending September 28^th, soybean export inspections are ahead of what’s needed to meet projections for the current marketing year. The 2023/24 marketing year got underway June 1^st for wheat and September 1^st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out October 12^th.

Wheat came out at 397,594 tons, down 88,118 from the week ending September 21^st and 270,032 from the week ending September 29^th, 2022. The main destinations were the Philippines and South Korea. At this point in the 2023/24 marketing year, wheat inspections are 6,061,282 tons, compared to 8,516,346 in 2022/23.

Corn was reported at 625,870 tons, 84,735 lower than the previous week and 57,742 below a year ago. The leading destinations were Mexico and Japan. For the marketing year to date, corn inspections are 2,638,042 tons, compared to 2,380,439 last year.

Soybeans were pegged at 663,355 tons, up 155,725 from the week before and 56,659 from this time last year. The top destinations were China and Mexico. So far, this marketing year, soybean inspections are 1,974,425 tons, compared to 1,816,286 a year ago.

Sorghum totaled 61,618 tons, an increase of 57,889 on the week and 56,087 on the year. The primary destination was China, followed by Mexico. 2023/24 sorghum inspections are 247,079 tons, compared to 83,878 in 2022/23.