Export inspections under year ago levels
The USDA says corn, sorghum, and soybean export inspections for the week ending August 12th were below year ago levels, but all three remain on pace to surpass expectations for the current marketing year. The 2021/22 marketing year started June 1st, 2021 for wheat and 2020/21 got underway September 1st, 2020 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out September 10th.
Wheat came out at 440,567 tons, down 213,402 from the week ending August 5th and 54,946 from the week ending August 13th, 2020. The main destinations were Japan and the Philippines. Nearing the end of the first quarter of the 2021/22 marketing year, wheat inspections are 4,885,643 tons, compared to 5,663,073 in 2020/21.
Corn was reported at 754,929 tons, 9,995 more than the previous week, but 384,203 less than a year ago. The top destinations were China and Japan. With just over two weeks remaining in the 2020/21 marketing year, corn inspections are 64,350,092 tons, compared to 40,579,955 late in 2019/20.
Soybeans were pegged at 277,637 tons, 162,929 above the week before, but 654,904 below last year. The leading destinations were China and Mexico. So far, this marketing year, soybean inspections are 58,661,647 tons, compared to 41,190,721 a year ago.
Sorghum totaled 55,165 tons, a decline of 20,672 on the week and 32,075 on the year. The listed destinations were China and Mexico. 2020/21 sorghum inspections are 6,898,032 tons, compared to 4,731,435 in 2019/20.