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U.S. export inspections mostly up on year
The USDA says soybean export inspections for the week ending November 21st were more than what’s needed to meet projections for the current marketing year. The 2024/25 marketing year began 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 360,513 tons, up 163,737 from the week ending November 14th and 72,055 from the week ending November 23rd, 2023. The main destinations were Japan and the Philippines. Approaching the second half of the 2024/25 marketing year, wheat inspections are 10,686,139 tons, compared to 8,147,916 in 2023/24.
Corn was reported at 903,049 tons, 29,388 higher than the previous week and 483,187 above a year ago. The leading destinations were Mexico and Japan. Nearing the second quarter of the marketing year, corn inspections are 10,028,578 tons, compared to 7,291,645 last year.
Soybeans were pegged at 2,102,002 tons, 164,413 less than the week before, but 527,918 more than last year. The top destinations were China and Mexico. So far, this marketing year, soybean inspections are 19,688,252 tons, compared to 17,583,745 a year ago.
Sorghum inspections totaled 119,807 tons, an increase of 57,185 on the week, but a decrease of 160,725 on the year. The biggest destination was China, followed distantly by Cameroon. 2024/25 sorghum inspections are 889,108 tons, compared to 967,850 in 2023/24.
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