News

Wheat export inspections up on week, year

The USDA says corn and wheat export inspections during the week ending April 25^th were more than what’s needed to meet projections for the current marketing year. The 2023/24 marketing year kicked off June 1^st for wheat and September 1^st for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out May 10^th.

Wheat came out at 481,183 tons, up 30,860 from the week ending April 18^th and 115,940 from the week ending April 27^th, 2023. The main destinations were China and Taiwan. With just over a month remaining in the 2023/24 marketing year, wheat inspections are 16,921,665 tons, compared to 18,256,290 in 2022/23.

Corn was reported at 1,225,952 tons, down 435,492 from the previous week and 292,617 from a year ago. The top destinations were Mexico and Japan. Approaching the final quarter of the marketing year, corn inspections are 31,624,525 tons, compared to 23,903,378 this time last year.

Soybeans were pegged at 250,332 tons, 193,176 lower than the week before and 157,641 under last year. The primary destinations were Indonesia and Japan. So far, this marketing year, soybean inspections are 38,747,671 tons, compared to 47,457,451 a year ago.

Sorghum totaled 72,212 tons, a decrease of 110,940 on the week and 40,612 on the year. The largest single destination was China, followed distantly by South Korea and Japan. 2023/24 sorghum inspections are 4,443,197 tons, compared to 1,418,168 in 2022/23.