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Another big week for soybean export inspections

The USDA reports soybean export inspections were strong during the week ending October 22nd. The 2020/21 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum.

Wheat came out at 363,806 tons, up 122,523 from the week ending October 15th, but down 179,360 from the week ending October 24th, 2019. The main destinations were Japan and Taiwan. Nearly five months into the 2020/21 marketing year, wheat inspections are 11,042,799 tons, compared to 10,622,214 in 2019/20.

Corn was reported at 636,290 tons, 275,358 lower than the previous week, but 245,059 lower than this time last year. The top destinations for the week were Mexico and China. About two months into the marketing year, corn inspections are 6,093,191 tons, compared to 3,478,787 a year ago.

Soybeans were pegged at 2,664,352 tons, an increase of 346,554 from the week before and 1,085,748 from a year ago. Almost all of that went to China, with the Netherlands taking second place. So far, this marketing year, soybean inspections are 14,338,789 tons, compared to 8,072,375 last year.

Sorghum totaled 65,007 tons, 9,648 less than prior week, but 6,687 more than last year. The primary destinations were China and Cameroon. 2020/21 sorghum inspections are 533,835 tons, compared to 308,482 in 2019/20.

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