Soybean, wheat, sorghum export inspections up on week

The USDA says that as of the week ending April 6th, soybean export inspections remain ahead of what’s needed to meet USDA projections for the current marketing year. The 2022/23 marketing year started June 1st, 2022 for wheat and September 1st, 2022 for beans, corn, and sorghum. The USDA’s next round of supply and demand estimates is out Tuesday, April 11th at Noon Eastern/11 Central.

Wheat came out at 335,444 tons, up 166,901 from the week ending March 30th, but down 83,741 from the week ending April 7th, 2022. The main destinations were Japan and Thailand. In the final two months of the 2022/23 marketing year, wheat inspections are 17,194,919 tons, compared to 17,637,317 in 2021/22.

Corn was reported at 805,167 tons, 293,294 lower than the previous week and 669,380 under a year ago. The top destinations were Mexico and China. Early in the back half of the marketing year, corn inspections are 20,174,710 tons, compared to 32,060,540 this time last year.

Soybeans were pegged at 669,566 tons, 165,666 more than the prior week, but 151,498 less than last year. The primary destinations were China and Germany. So far, this marketing year, soybean inspections are 46,132,515 tons, compared to 45,031,020 a year ago.

Sorghum totaled 90,436 tons, an increase of 80,516 from the week before, but a decrease of 53,403 from a year ago. Most of that was to China and Sudan. 2022/23 sorghum inspections are 1,191,713 tons, compared to 4,596,429 in 2021/22.

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