Export inspections mostly down on week
The USDA says corn export inspections for the week ending June 24th were barely above a million tons, but still more than what’s needed to meet projections for the current marketing year. The 2021/22 marketing year started June 1st, 2021 for wheat, while 2020/21 got underway September 1st, 2020 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out July 12th.
Wheat came out at 285,654 tons, down 265,836 from the week ending June 17th and 229,705 from the week ending June 25th, 2020. The main destinations were Mexico and South Korea. Less than a month into the 2021/22 marketing year, wheat inspections are 1,531,574 tons, compared to 2,000,953 in 2020/21.
Corn was reported at 1,008,351 tons, 767,365 lower than the previous week and 232,687 below this time last year. The top destinations were China and Japan. With just over two months remaining in the 2020/21 marketing year, corn inspections are 56,818,636 tons, compared to 33,344,639 in 2019/20.
Soybeans were pegged at 103,965 tons, a decrease of 101,190 from the week before and 230,677 from a year ago. The leading destinations were Mexico and Indonesia. So far, this marketing year, soybean inspections are 57,187,012 tons, compared to 36,821,627 last year.
Sorghum totaled 37,212 tons, 18,834 more than the prior week, but 122,228 less than a year ago. The largest destination was Sudan, with a much smaller amount headed to Mexico. 2020/21 sorghum inspections are 6,473,544 tons, compared to 4,011,739 in 2019/20.