China, Mexico big names in export inspections update

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China, Mexico big names in export inspections update

The USDA says that in the week ending Nov. 17^th, wheat export inspections are slightly above what is needed to meet forecasts for the current marketing year. The 2022/23 marketing year started on 1 June^St for wheat and 1 September^St for corn, sorghum and soybeans. The next set of USDA supply and demand estimates is released on December 9^th.

Wheat came out at 279,904 tonnes, up 109,480 from the week ended November 10^th and 86,715 from the week ending November 18^th, 2021. The main destinations were Yemen and Mexico. Near the end of the first half of the 2022/23 marketing year, wheat inspections are at 10,279,437 tonnes, up from 10,513,524 in 2021/22.

Corn was reported at 495,395 tons, down 40,021 from the previous week and down 330,745 from a year ago. The main destinations were Mexico and China. At the end of the first quarter of the marketing year, corn inspections are 5,479,500 tons, compared to 7,824,218 this time last year.

Soybeans were estimated at 2,329,082 tons, 365,621 more than the previous week, but 187,273 less than last year. The main destinations were China and Mexico. So far this marketing year, soybean inspections are at 17,128,301 tons, up from 19,141,214 a year ago.

Sorghum totaled 53,665 tons, up 50,578 on the week but down 185,321 on the year. The destinations listed were China and Mexico. 2022/23 sorghum inspections are 274,692 tonnes, up from 753,689 in 2021/22.