News
Corn, soybean export inspections stay on pace
The USDA says that as of the week ending July 1st, corn and soybean export inspections remain ahead of the pace needed to meet expectations 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 beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out July 12th.
Wheat came out at 258,438 tons, down 30,110 from the week ending June 24th and 155,457 from the week ending July 2nd, 2020. The main destinations were Mexico and Taiwan. A month into the 2021/22 marketing year, wheat inspections are 1,792,539 tons, compared to 2,414,848 in 2020/21.
Corn was reported at 1,235,931 tons, up 202,228 from the previous week and 201,302 from a year ago. The top destinations were China and Mexico. With two months left in the 2020/21 marketing year, corn inspections are 58,151,738 tons, compared to 34,379,268 in 2019/20.
Soybeans were pegged at 206,152 tons, 95,637 more than the prior week, but 355,483 less than last year. The leading destinations were Mexico and Japan. So far, this marketing year, soybean inspections are 57,451,813 tons, compared to 37,383,262 a year ago.
Sorghum totaled 3,344 tons, a decrease of 33,868 on the week and 55,021 on the year. The largest single destination was Mexico, with a much smaller amount heading to Chad. 2020/21 sorghum inspections are 6,482,303 tons, compared to 4,070,104 in 2019/20.
