Strong pace continues for corn export inspections
The USDA says corn export inspections during the week ending May 20th moved at a fast pace. The 2020/21 marketing year started June 1st, 2020 for wheat and September 1st, 2020 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out June 10th.
Wheat came out at 573,912 tons, down 86,386 from the week ending May 13th, but up 109,055 from the week ending May 21st, 2020. The leading destinations were Japan and Mexico. Nearing the end of the 2020/21 marketing year, wheat inspections are 24,949,747 tons, compared to 24,396,866 in 2019/20.
Corn was reported at 1,727,878 tons, 255,581 lower than the previous week, but 630,629 higher than this time last year. The top destinations were China and Mexico. Closing in on the final quarter of the current marketing year, corn inspections are 48,874,544 tons, compared to 27,462,759 a year ago.
Soybeans were pegged at 193,912 tons, a decline of 116,496 from the week before and 150,486 from a year ago. The main destinations were Egypt and Indonesia. So far, this marketing year, soybean inspections are 56,217,013 tons, compared to 35,069,776 last year.
Sorghum totaled 163,649 tons, an increase of 103,700 on the week, but a decrease of 24,453 on the year. The biggest destinations were China and Eritrea. 2020/21 sorghum inspections are 5,966,627 tons, compared to 3,195,576 in 2019/20.