Fast pace continues for corn export inspections
U.S. corn export inspections continue to move out at a very fast pace and as of the week ending April 29th, will likely eclipse the USDA’s projection for the current marketing year. The 2020/21 marketing year started June 1st, 2020 for wheat and September 1st, 2020 for corn, sorghum, and soybeans. The next set of supply and demand estimates is out Wednesday, May 12th at Noon Eastern/11 Central.
Wheat came out at 509,932 tons, down 71,155 from the week ending April 22nd and 78,261 from the week ending April 30th, 2020. The top destinations were China and Japan. With about a month remaining in the 2020/21 marketing year, wheat inspections are 23,128,846 tons, compared to 23,096,816 late in 2019/20.
Corn was reported at 2,139,077 tons, up 185,065 from the previous week and 789,873 from this time last year. The main destinations were China and Japan. Closing in on the fourth quarter of the marketing year, corn inspections are 43,374,708 tons, compared to 23,775,758 a year ago.
Soybeans were pegged at 143,418 tons, a decrease of 140,656 from the week before and 237,759 from a year ago. The leading destinations were Mexico and Costa Rica. So far, this marketing year, soybean inspections are 55,458,814 tons, compared to 33,778,843 last year.
Sorghum totaled 235,496 tons, an increase of 52,882 on the week and 37,137 on the year. The biggest single destination was China, with a much smaller amount headed to Mexico. 2020/21 sorghum inspections are 5,618,016 tons, compared to 2,647,538 in 2019/20.