The USDA is reporting another generally bearish week for U.S. export inspections. Export competition is strong right now for most key commodities, which is due to several factors, including seasonal supply and demand trends and the strength of the dollar relative to other major currencies. The 2023/24 marketing year got underway June 1st, 2023 for wheat, while 2022/23 kicked off September 1st, 2022 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out July 12th.
