News
Soybean export inspections up on week, year
The USDA says that as of the week ending October 3rd, corn and wheat export inspections remain ahead of the respective paces needed to meet projections for the current marketing year. The 2024/25 marketing year began June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out Friday, October 11th at Noon Eastern/11 Central.
Wheat came out at 363,460 tons, down 187,475 from the week ending September 26th, but up 57,397 from the week ending October 5th, 2023. The top destinations were South Korea and Japan. At this point in the 2024/25 marketing year, wheat inspections are 8,612,111 tons, compared to 6,398,525 in 2023/24.
Corn was reported at 933,274 tons, 216,250 lower than the previous week, but 128,856 higher than a year ago. The leading destinations were Mexico and Japan. For the marketing year to date, corn inspections are 4,273,529 tons, compared to 3,467,691 this time last year.
Soybeans were pegged at 1,431,345 tons, an increase of 748,493 from the week before and 27,120 from last year. The main destinations were China and Vietnam. So far, this marketing year, soybean inspections are 3,360,626 tons, compared to 3,393,693 a year ago.
Sorghum totaled 2,860 tons, a drop of 177,241 on the week and 53,918 on the year. The listed destinations were China and Mexico. 2024/25 sorghum inspections are 333,230 tons, compared to 303,857 in 2023/24.
Add Comment