Export inspections mostly down on week, year
The USDA says soybean and wheat export inspections for the week ending August 26th were more than what’s needed to meet expectations for the respective marketing years. The 2021/22 marketing year started June 1st, 2020 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 September 10th.
Wheat came out at 316,844 tons, down 415,444 from the week ending August 19th and 218,571 from the week ending August 27th, 2020. The main destinations were Mexico and the Philippines. Almost a quarter into the 2021/22 marketing year, wheat inspections are 6,051,848 tons, compared to 6,768,081 in 2020/21.
Corn was reported at 562,549 tons, 182,754 less than the previous week, but 138,784 more than this time last year. The leading destinations were Mexico and China. Closing in on the end of the 2020/21 marketing year, corn inspections are 65,755,115 tons, compared to 41,895,751 late in 2019/20.
Soybeans were pegged at 377,341 tons, 137,384 above the week before, but 443,314 less than a year ago. The top destinations were Mexico and Germany. So far, this marketing year, soybean inspections are 59,278,994 tons, compared to 43,234,627 last year.
Sorghum totaled 74,186 tons, a decline of 54,395 on the week and 88,810 on the year. The listed destinations were China and Mexico. 2020/21 sorghum inspections are 7,101,350 tons, compared to 4,964,788 in 2019/20.