News
Export inspections mostly up on week
The USDA says corn and wheat export inspections as of the week ending March 3rd are running ahead of what’s needed to meet projections for the 2021/22 marketing year. The 2021/22 marketing year started June 1st, 2021 for wheat and September 1st, 2021 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out Wednesday, March 9th at Noon Eastern/11 Central.
Wheat came out at 343,463 tons, down 66,521 from the week ending February 24th and 179,562 from the week ending March 4th, 2021. The main destinations were Mexico and Japan. With one quarter remaining in the 2021/22 marketing year, wheat inspections are 15,852,189 tons, compared to 18,667,969 in 2020/21.
Corn was reported at 1,582,167 tons, 26,940 higher than the previous week, but 100,005 lower than a year ago. The top destinations were China and Mexico. Entering the back half of the marketing year, corn inspections are 24,780,431 tons, compared to 27,925,277 this time last year.
Soybeans were pegged at 766,250 tons, up 27,984 from the prior week and 100,703 from last year. The leading destinations were China and Egypt. So far, this marketing year, soybean inspections are 41,375,206 tons, compared to 52,774,084 a year ago.
Sorghum totaled 204,845 tons, an increase of 58,329 on the week and 13,742 on the year. The largest single destination was China, followed distantly by Mexico. 2021/22 sorghum inspections are 3,225,925 tons, compared to 3,777,199 on 2020/21.