News
Strong soybean export inspection pace continues
The USDA says soybean export inspections for the week ending November 12th were above what’s needed to meet projections for the marketing year. The 2020/21 marketing year got underway June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out December 10th.
Wheat came out at 325,948 tons, up 21,709 from the week ending November 5th, but down 137,101 from the week ending November 14th, 2019. The top destinations were the Philippines and Japan. For the 2020/21 marketing year to date, wheat inspections are 12,029,131 tons, compared to 11,919,154 in 2019/20.
Corn was reported at 817,476 tons, 126,907 higher than the previous week and 166,329 above a year ago. The main destinations were China and Mexico. At this point in the marketing year, corn inspections are 8,394,860 tons, compared to 4,995,494 this time last year.
Soybeans were pegged at 2,239,956 tons, 611,558 less than the week before, but 701,333 more than last year. The primary destinations were China and Mexico. So far, this marketing year, soybean inspections are 22,181,351 tons, compared to 12,442,844 a year ago.
Sorghum totaled 117,023 tons, a decrease of 24,627 on the week, but an increase of 71,753 on the year. China was the biggest single destination, followed by Eritrea. 2020/21 sorghum inspections are 904,638 tons, compared to 446,286 in 2019/20.
