Solid pace continues for soybean export inspections
The USDA says soybean export inspections for the week ending December 3rd were more than what’s 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 December 10th.
Wheat came out at 530,781 tons, down 3,606 from the week ending November 26th, but up 164,767 from the week ending December 5th, 2019. The main destinations were Japan and Mexico. Just past the halfway point for the 2020/21 marketing year, wheat inspections are 13,466,903 tons, compared to 13,055,166 in 2019/20.
Corn was reported at 734,079 tons, 300,426 lower than the previous week, but 244,467 higher than this time last year. The top destinations were China and Mexico. A quarter into the marketing year, corn inspections are 11,027,000 tons, compared to 6,541,641 a year ago.
Soybeans were pegged at 2,297,136 tons, 126,731 less than the week before, but 894,509 more than a year ago. The leading destinations were China and Egypt. So far, this marketing year, soybean inspections are 29,420,290 tons, compared to 13,374,538 last year.
There was no sorghum inspected for export, compared to 355,681 tons the prior week and 45,149 a year ago. 2020/21 sorghum inspections are 1,451,798 tons, compared to 630,960 in 2019/20.