US: Another big week for soybean export inspections

The article reports on the dynamics of U.S. agricultural export inspections for key crops, including wheat, corn, soybeans, and sorghum, for the early part of the 2022/23 marketing year, spanning from June 1st for wheat and September 1st for other crops. It highlights a notable increase in wheat inspections of late, reaching 180,991 tons, despite a slight decline from the previous week and a significant drop from the same period last year. This performance is slightly behind the previous marketing year but shows improvement from the earlier weeks, supporting the need for ongoing monitoring of USDA projections.

In contrast, inspections for corn and soybeans have experienced notable declines, with corn at 231,458 tons and soybeans at 2,591,127 tons, both showing significant year-over-year decreases. Sorghum inspections have also seen a substantial drop, with only 4,671 tons reported, marking a significant decrease from both the previous week and the same period last year. These trends underscore the fluctuating demand for U.S. agricultural exports and the importance of the USDA's upcoming supply, demand, and production estimates, which are expected to provide further insights into the current agricultural market dynamics.