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U.S. export inspections under a week ago

The USDA says corn export inspections as of the week ending April 4th continue to run ahead of the needed pace to meet expectations for the current marketing year. The 2023/24 marketing year began June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s updated supply, demand, and production projections are out Thursday, April 11th at Noon Eastern/11 Central.

Wheat came out at 497,534 tons, down 71,613 from the week ending March 28th, but up 107,490 from the week ending April 6th. The main destinations were the Philippines and Mexico. In the final quarter of the 2023/24 marketing year, wheat inspections are 15,350,719 tons, compared to 17,249,519 in 2022/23.

Corn was reported at 1,420,023 tons, 51,859 lower than the previous week, but 580,858 higher than a year ago. The primary destinations were Mexico and Japan. Still early in the back half of the marketing year, corn inspections are 27,327,490 tons, compared to 20,208,708 this time last year.

Soybeans were pegged at 484,328 tons, a decrease of 63,023 from the week before and 194,592 from last year. The top destinations were China and Mexico. So far, this marketing year, soybean inspections are 37,598,737 tons, compared to 46,139,474 a year ago.

Sorghum totaled 69,839 tons, a decline of 141,487 on the week and 20,792 on the year. The reported destinations were China and South Korea. 2023/24 sorghum inspections are 4,110,982 tons, compared to 1,192,569 in 2022/23.

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