China leading destination for week’s export inspections
The USDA says corn and soybean export inspections as of the week ending December 10th continue to run 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 January 12th.
Wheat came out at 261,164 tons, down 275,717 from the week ending December 3rd and 251,614 lower than the week ending December 12th, 2019. The top destinations were China and Indonesia. Just over the halfway point of the 2020/21 marketing year, wheat inspections are 13,733,327 tons, compared to 13,567,944 in 2019/20.
Corn was reported at 886,938 tons, up 133,933 from the previous week and 187,241 higher than this time last year. The leading destinations were China and Mexico. Slightly more than a quarter into the marketing year, corn inspections are 11,932,864 tons, compared to 7,241,338 a year ago.
Soybeans were pegged at 2,368,781 tons, 216,790 less than the week before, but 1,051,217 more than a year ago. The main destinations were China and Pakistan. So far, this marketing year, soybean inspections are 32,077,326 tons, compared to 18,692,102 last year.
Sorghum totaled 197,844 tons, an increase of 124,341 on the week and 120,280 on the year. China was the primary destination, followed by Japan. 2020/21 sorghum inspections are 1,724,370 tons, compared to 708,524 in 2019/20.