US: Another strong showing for soybeans

Published 2023년 1월 9일

Tridge summary

The USDA has released new grain export inspection data for the week ending January 5, 2023. Soybeans were the leading grain, but their volume slightly decreased from the previous week. Corn's volume also fell moderately. Wheat's volume rose above the previous week's but still fell short of expectations. Mexico was the top destination for U.S. corn, and China led the way for soybeans and wheat. The cumulative totals for the 2022/23 marketing year remain below last year's pace for corn, sorghum, soybeans, and wheat.

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

Original content

USDA’s new set of grain export inspection data, out Monday morning and covering the week through January 5, showed soybeans leading the charge once more, though volume slipped slightly lower week-over-week. Corn volume also faded moderately lower from week-ago totals and landed on the lower end of trade estimates. Wheat jumped well above week-ago totals but results were still lackluster. Corn export inspections were largely disappointing last week after only reaching 15.7 million bushels. That was on the lower end of analyst estimates, which ranged between 12.8 million and 35.4 million bushels. Cumulative totals for the 2022/23 marketing year remain well below last year’s pace, with 554.7 million bushels. Mexico was the No. 1 destination for U.S. corn export inspections last week, with 9.5 million bushels. China, Taiwan, El Salvador and Jamaica rounded out the top five. Sorghum export inspections continue to post lackluster results, with just under 450,000 bushels last week. That ...

Source: Prairie Grain Partners