Corn, sorghum export inspections up on week
The USDA says that as of the week ending October 15th, U.S. corn, sorghum, and soybean export inspections continue to run well ahead of the pace needed to meet projections for the current marketing year. The 2020/21 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out November 9th.
Wheat came out at 239,688 tons, down 274,961 from the week ending October 8th and 340,992 lower than the week ending October 17th, 2019. The main destinations were Ethiopia and Burma. At this point in the 2020/21 marketing year, wheat inspections are 10,677,374 tons, compared to 10,079,048 in 2019/20.
Corn was reported at 911,012 tons, up 72,163 from the previous week and 329,775 higher than this time last year. The top destinations were China and Mexico. About a month and a half into the marketing year, corn inspections are 5,455,972 tons, compared to 3,087,556 a year ago.
Soybeans were pegged at 2,173,521 tons, 223,387 less than the week before, but 842,612 more than a year ago. China and Egypt were the leading destinations. So far, this marketing year, soybean inspections are 11,518,836 tons, compared to 6,493,771 last year.
Sorghum totaled 74,655 tons, an increase of 74,463 on the week and 52,669 on the year. The primary destinations were China and Madagascar. 2020/21 sorghum inspections are 537,631 tons, compared to 250,162 in 2019/20.