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Soybean, wheat inspections up on week
The USDA says soybean and wheat export inspections as of the week ending February 2nd are ahead of what’s needed to meet projections for the current marketing year. The 2022/23 marketing year for wheat started June 1st, 2022 for wheat and September 1st, 2022 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out Wednesday, February 8th at Noon Eastern/11 Central.
Wheat came out at 536,355 tons, up 90,628 from the week ending January 26th and 102,287 from the week ending February 3rd, 2022. The leading recipients were the Philippines and Mexico. At this point in the 2022/23 marketing year, wheat inspections are 13,759,164 tons, compared to 14,050,012 in 2021/22.
Corn was reported at 480,205 tons, down 62,784 from the previous week and 584,935 from a year ago. The top destinations were Mexico and Japan. For the marketing year to date, corn inspections are 12,534,173 tons, compared to 18,615,648 last year.
Soybeans were pegged at 1,829,826 tons, 101,075 less than the week before, but 588,666 more than last year. The main destinations were China and Mexico. So far, this marketing year, soybean inspections are 37,899,927 tons, compared to 37,690,959 a year ago.
Sorghum totaled 1,880 tons, 682 above the prior week, but 154,893 below a year ago. The listed recipients were Mexico and Madagascar. 2022/23 sorghum inspections are 496,706 tons, compared to 2,433,444 in 2021/22.
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