News
Corn export inspections stay ahead of pace
The USDA says corn export inspections during the week ending July 29th were above what’s needed to meet projections for the current marketing year. The 2021/22 marketing year started June 1st 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 August 12th.
Wheat came out at 387,743 tons, down 127,471 from the week ending July 22nd and 169,244 from the week ending July 30th, 2020. The top destinations were Mexico and the Philippines. About two months into the 2021/22 marketing year, wheat inspections are 3,771,140 tons, compared to 4,687,877 in 2020/21.
Corn was reported at 1,383,718 tons, up 199,706 from the previous week and 657,061 from a year ago. The leading destinations were China and Mexico. With just over a month remaining in 2020/21, corn inspections are 62,807,101 tons, compared to 38,085,481 late in 2019/20.
Soybeans were pegged at 181,193 tons, 60,851 lower than the week before and 376,414 below last year. The main destinations were Mexico and Vietnam. So far, this marketing year, soybean inspections are 58,223,052 tons, compared to 39,384,348 a year ago.
Sorghum totaled 54,420 tons, a decrease of 36,372 on the week and 128,059 on the year. China was the largest single destination, followed by Mexico. 2020/21 sorghum inspections are 6,765,712 tons, compared to 4,533,076 in 2019/20.
