Corn, soybean inspections stay on pace
The USDA says corn and soybean export inspections as of the week ending July 8th 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 corn, sorghum, and soybeans.
Wheat came out at 424,327 tons, up 62,516 from the week ending July 1st, but down 235,400 tons from the week ending July 9th, 2020. The leading destinations were Japan and Mexico. Just over a month into the 2021/22 marketing year, wheat inspections are 2,323,828 tons, compared to 80,381,445 early in 2020/21.
Corn was reported at 993,974 tons, 242,269 less than the previous week, but 76,006 more than this time last year. The main destinations were China and Japan. With just under two months left in 2020/21, corn inspections are 59,146,024 tons, compared to 35,294,236 late in 2019/20.
Soybeans were pegged at 200,933 tons, a decrease of 7,203 from the week before and 282,496 from a year ago. The top destinations were Indonesia and Spain. So far, this marketing year, soybean inspections are 57,655,465 tons, compared to 37,866,691 last year.
Sorghum totaled 73,294 tons, an increase of 68,945 on the week and 1,539 on the year. The biggest destination was China, with the rest headed to Mexico. 2020/21 sorghum inspections are 6,556,602 tons, compared to 4,141,859 in 2019/20.