USA: Soybean export inspections down on week, year
Regulation & Compliances
Market & Price Trends
Published Nov 28, 2023
Soybean export inspections remain above projections for the current marketing year, according to the USDA. Wheat inspections for the first half of the marketing year are lower than in the previous year. Corn and sorghum inspections are higher compared to the same time last year.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
The USDA says soybean export inspections as of the week ending November 23rd remain ahead of what’s needed to meet projections for the current marketing year. The 2023/24 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out December 8th.Wheat came out at 276,585 tons, down 89,887 from the week ending November 16th and 7,891 from the week ending November 24th, 2022. The main destinations were the Philippines and Japan. Late in the first half of the 2023/24 marketing year, wheat inspections are 8,124,467 tons, compared to 10,575,460 in 2022/23.Corn was reported at 406,680 tons, 194,388 lower than the previous week, but 95,022 higher than a year ago. The leading destinations were Mexico and Colombia. For the marketing year to date, corn inspections are 7,267,785 tons, compared to 5,817,123 this time last year.Soybeans were pegged at 1,443,385 tons, a decrease of 187,705 from the week before ...