Soybean export inspections stay on pace

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Soybean export inspections stay on pace

The USDA says corn and soybean export inspections for the week ending February 4th 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 Tuesday at Noon Eastern/11 Central.

Wheat came out at 441,076 tons, up 26,828 from the week ending January 28th, but down 126,549 from the week ending February 6th, 2020. The main destinations were Mexico and the Philippines. Closing in on the final quarter of the 2020/21 marketing year, wheat inspections are 17,003,459 tons, compared to 17,215,042 in 2019/20.

Corn was reported at 1,576,663 tons, 460,566 higher than the previous week and 788,114 larger than this time last year. The leading destinations were China and Mexico. At this point in the marketing year, corn inspections are 21,450,924 tons, compared to 11,590,910 a year ago.

Soybeans were pegged at 1,800,682 tons, 105,800 less than the prior week, but 1,191,036 more than a year ago. The top destinations were China and the Netherlands. So far, this marketing year, soybean inspections are 49,167,370 tons, compared to 27,253,785 last year.

Sorghum totaled 200,874 tons, a decrease of 46,414 on the week, but an increase of 123,297 on the year. The lone listed destination was China. 2020/21 sorghum inspections are 3,266,111 tons, compared to 1,226,668 in 2019/20.

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