Export inspections in the US are mostly lower than last week

Published 2023년 6월 12일

Tridge summary

The USDA has reported a generally bearish week for U.S. export inspections, with strong competition and factors such as seasonal supply and demand trends, and the strength of the dollar affecting key commodities. In the 2023/24 marketing year, which began on June 1st for wheat, and September 1st for corn, sorghum, and soybeans, wheat inspections have decreased compared to the previous year, with the Philippines and Yemen as the leading destinations. Corn inspections have also decreased, with Mexico and Japan as the top destinations, and soybean inspections have also declined, with Italy and Mexico as the main destinations. Sorghum inspections have seen a decrease from the previous year, with China and Chad as the primary destinations.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The USDA is reporting another generally bearish week for U.S. export inspections. Export competition is strong right now for most key commodities, which is due to several factors, including seasonal supply and demand trends and the strength of the dollar relative to other major currencies. The 2023/24 marketing year got underway June 1st, 2023 for wheat, while 2022/23 kicked off September 1st, 2022 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out July 12th.Wheat came out at 246,559 tons, down 57,841 from the week ending June 1st and 165,357 from the week ending June 9th, 2022. The leading destinations were the Philippines and Yemen. Early in the 2023/24 marketing year, wheat inspections are 317,051 tons, compared to 638,625 in 2022/23.Corn was reported at 1,169,134 tons, 37,674 lower than the previous week and 52,688 below a year ago. The top destinations were Mexico and Japan. Just after the outset of the final quarter of the 2022/23 ...

Source: Brownfield Ag