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U.S. export inspections above a year ago
The USDA says corn and wheat export inspections as of week ending November 7th continue to run ahead of what’s needed to meet expectations for the current marketing year. The 2024/25 marketing year kicked off June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next round of supply and demand estimates is out December 10th.
Wheat came out at 347,321 tons, up 141,523 from the week ending October 31st and 102,574 from the week ending November 9th, 2023. The top destinations were South Korea and the Philippines. Approaching the second half of the 2024/25 marketing year, wheat inspections are 10,110,592 tons, compared to 7,481,410 in 2023/24.
Corn was reported at 793,012 tons, 4,627 lower than the previous week, but 74,348 higher than a year ago. The main destinations were Mexico and Colombia. Late in the first quarter of the marketing year, corn inspections are 8,234,890 tons, compared to 6,270,715 this time last year.
Soybeans were pegged at 2,277,907 tons, 29,945 less than the week before, but 266,598 more than last year. The leading destinations were China and Egypt. So far, this marketing year, soybean inspections are 15,228,132 tons, compared to 14,378,130 a year ago.
Sorghum inspections totaled 167,012 tons, an increase of 99,986 on the week and 87,101 on the year. The largest destinations were China and Djibouti. 2024/25 sorghum inspections are 706,679 tons, compared to 570,768 in 2023/24.
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