The USDA says that as of the week ending February 15th, physical shipments of U.S. corn and sorghum to continue to move out faster than what’s needed to meet projections for the current marketing year. The 2023/24 marketing year got started June 1st, 2023 for wheat and September 1st, 2023 for corn, sorghum, and soybeans. The USDA’s set of supply and demand estimates is out March 8th.
Wheat came out at 380,774 tons, down 26,750 from the week ending February 8th, but up 6,347 from the week ending February 16th, 2023.