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Soybean, sorghum export inspections up on week

The USDA says that as of the week ending January 11th, 2024, corn export inspections are ahead of the pace needed to meet projections for the current marketing year. The 2023/24 marketing year got underway June 1st, 2023 for wheat and September 1st, 2023 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out February 8th.

Wheat came out at 234,205 tons, down 267,705 from the week ending January 4th and 91,462 from the week ending January 12th, 2023. The leading destinations were Japan and Mexico. At this point in the 2033/24 marketing year, wheat inspections are 10,377,165 tons, compared to 12,427,689 in 2022/23.

Corn was reported at 875,621 tons, 216,741 lower than the previous week, but 95,833 higher than this time last year. The primary destinations were Mexico and Japan. For the marketing year to date, corn inspections are 13,918,431 tons, compared to 10,782,138 a year ago.

Soybeans were pegged at 1,264,468 tons, 223,840 more than the prior week, but 927,021 less than a year ago. The main destinations were China and Mexico. So far, this marketing year, soybean inspections are 25,576,844 tons, compared to 32,431,040 last year.

Sorghum totaled 296,128 tons, an increase of 120,891 on the week and 293,420 on the year. The listed destinations were China and Eritrea. 2023/24 sorghum inspections are 2,539,774 tons, compared to 421,054 in 2022/23.

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