The USDA's latest report reveals that corn export inspections for the week ending March 7th are exceeding the pace required to meet the current marketing year's expectations. The report also shows that wheat inspections were at 402,874 tons, primarily destined for the Philippines and Mexico. Corn inspections were at 1,121,912 tons, with Mexico and Japan being the top recipients. Soybeans were at 706,334 tons, mainly going to China and Mexico, while sorghum totaled 65,252 tons, with China as the sole listed destination.
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.
Original content
The USDA says corn export inspections as of the week ending March 7th remain ahead of the pace needed to meet expectations for the current marketing year. The 2023/24 marketing year kicked off June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out April 11th.Wheat came out at 402,874 tons, up 44,576 from the week ending February 29th and 145,973 from the week ending March 9th, 2023. The top destinations were the Philippines and Mexico. Early in the final quarter of the 2023/24 marketing year, wheat inspections are 13,374,008 tons, compared to 15,911,784 in 2022/23.Corn was reported at 1,121,912 tons, 24,172 lower than the previous week, but 94,917 higher than a year ago. The leading destinations were Mexico and Japan. In the back half of the marketing year, corn inspections are 21,809,792 tons, compared to 16,357,779 this time last year.Soybeans were pegged at 706,334 tons, 454,058 less than the week before, ...
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