The USDA says that as of the week ending June 9th, corn, soybean, and wheat inspections were less than what’s needed to meet projections for the respective marketing years. The 2021/22 marketing year started September 1st, 2021 for beans and corn and 2022/23 got underway June 1st, 2022 for wheat. The USDA’s next set of supply and demand estimates is out July 12th.
Wheat came out at 388,847 tons, up 33,507 from the week ending June 2nd, but down 111,098 from the week ending June 10th, 2021.
