News
Soybean export inspections top 2 million tons
The USDA says corn, soybean, and wheat export inspections as of the week ending October 8th continue to run ahead of the projected pace for the current marketing year. The 2020/21 marketing year got underway June 1st for wheat and September 1st for beans, corn, and sorghum.
Wheat came out at 514,086 tons, down 164,629 from the week ending October 1st, but up 16,618 from the week ending October 10th, 2019. The top destinations were China and Nigeria. At this point in the 2020/21 marketing year, wheat inspections are 10,437,123 tons, compared to 9,498,368 in 2019/20.
Corn was reported at 632,184 tons, 251,973 lower than the previous week, but 151,537 higher than this time last year. The leading destinations were Mexico and South Korea. Just over a month into the marketing year, corn inspections are 4,319,958 tons, compared to 2,506,319 a year ago.
Soybeans were pegged at 2,157,012 tons, an increase of 152,145 from the week before and 1,200,956 from a year ago. China and Mexico were the main destinations. So far, this marketing year, soybean inspections are 9,095,531 tons, compared to 5,162,862 last year.
Sorghum totaled 192 tons, a decrease of 157,455 on the week and 38,633 on the year. The lone listed destination was Mexico. 2020/21 sorghum inspections are 461,947 tons, compared to 228,176 in 2019/20.
