The USDA says corn and soybean export inspections as of the week ending March 13th remain ahead of the respective paces need to meet projections for the current marketing year. The 2024/25 marketing year began June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next round of supply and demand estimates is out April 10th.
Wheat came out at 492,658 tons, up 251,012 from the week ending March 6th and 98,179 from the week ending March 14th, 2024. The top destinations were South Korea and Japan. Early in the final quarter of the 2024/25 marketing year, wheat inspections are 16,366,600 tons, compared to 13,851,274 in 2023/24.
Corn was reported at 1,658,631 tons, 185,557 lower than the previous week, but 332,344 higher than a year ago. The leading destinations were Japan and Mexico. In the back half of the current marketing year, corn inspections are 30,761,396 tons, compared to 23,190,399 this time last year.
Soybeans were pegged at 646,667 tons, a decline of 206,978 from the week before and 53,578 from last year. The main destinations were China and Mexico. So far, this marketing year, soybean inspections are 39,098,163 tons, compared to 35,782,234 a year ago.
Sorghum totaled 11,955 tons, falling 41,443 on the week and 180,504 on the year. The listed destinations were Mexico and China. 2024/25 sorghum inspections are 1,551,852 tons, compared to 3,823,792 in 2023/24.
