Export inspections down on year
The USDA says corn, soybean, and wheat export inspections as of the week ending February 3rd remain behind the pace needed to meet projections for the current marketing year. The 2021/22 marketing year started June 1st, 2021 for wheat and September 1st, 2021 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out Wednesday at Noon Eastern/11 Central.
Wheat came out at 417,750 tons, up 41,226 from the week ending January 27th, but down 67,795 from the week ending February 4th, 2021. The main destinations were South Korea and Mexico. In the back half of the 2021/22 marketing year, wheat inspections are 14,024,919 tons, compared to 17,052,113 in 2020/21.
Corn was reported at 1,053,202 tons, 17,419 higher than the previous week, but 533,440 lower than a year ago. The leading destinations were Japan and Mexico. For the marketing year to date, corn inspections are 18,597,272 tons, compared to 21,604,077 this time last year.
Soybeans were pegged at 1,217,991 tons, a decrease of 197,901 on the week and 688,272 on the year. The top destinations were China and Egypt. So far, this marketing year, soybean inspections are 37,642,888 tons, compared to 49,374,591 a year ago.
Sorghum totaled 155,534 tons, 27,983 more than the prior week, but 45,928 less than a year ago. The primary destinations were China and Eritrea. 2021/22 sorghum inspections are 2,433,085 tons, compared to 3,269,148 in 2020/21.