News
Soybean, corn export inspections up on week
The USDA says 2021/22 export inspections as of the week ending October 14th continue to trail the 2020/21 pace. That’s due to generally slower demand and recent shipping delays out of the U.S. Gulf following Hurricane Ida. The USDA’s next set of supply and demand estimates is out November 9th. The 2021/22 marketing year got underway June 1st for wheat and September 1st for corn, sorghum, and soybeans.
Wheat came out at 306,899 from the week ending October 7th and 102,254 from the week ending October 15th, 2020. The main destinations were Mexico and Venezuela. At this point in the 2021/22 marketing year, wheat inspections are 9,336,194 tons, compared to 10,690,129 in 2020/21.
Corn was reported at 976,218 tons, up 133,370 from the previous week and 63,572 from this time last year. The leading destinations were Mexico and China. About a month and a half into the marketing year, corn inspections are 4,087,490 tons, compared to 5,488,804 a year ago.
Soybeans were pegged at 2,298,315 tons, 555,178 more than the prior week, but 38,202 less than a year ago. The top destinations were China and Mexico. So far, this marketing year, soybean inspections are 5,873,076 tons, compared to 11,984,136 last year.
Sorghum totaled 37,990 tons, a decrease of 32,118 on the week and 36,951 on the year. The listed destinations were Eritrea and Mexico. 2021/22 sorghum inspections are 5,873,076 tons, compared to 11,894,136 in 2020/21.
