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Another solid week for corn export inspections
The USDA says that as of the week ending April 8th, corn, sorghum, and soybean export inspections continue to run ahead of the pace needed to meet expectations for the current marketing year. The 2020/21 marketing year got underway June 1st, 2020 for wheat and September 1st, 2020 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out May 12th.
Wheat came out at 458,432 tons, down 177,055 from the week ending April 1st, 2020 and 203,741 from the week ending April 9th, 2020. The top destinations were the Philippines and China. With just under two months remaining in the 2020/21 marketing year, wheat inspections are 21,404,038 tons, compared to 21,495,706 in 2019/20.
Corn was reported at 1,584,761 tons, 575,729 lower than the previous week, but 408,247 higher than this time last year. The main destinations were China and Mexico. A little more than halfway through the marketing year, corn inspections are 37,578,615 tons, compared to 20,616,494 a year ago.
Soybeans were pegged at 327,799 tons, 56,863 less than the week before and a decline of 147,798 from a year ago. The leading destinations were Indonesia and Mexico. So far, this marketing year, soybean inspections are 54,799,897 tons, compared to 32,284,824 last year.
Sorghum totaled 199,125 tons, a decrease of 40,024 on the week and an increase of 3,733 on the year. The biggest single destination was China, with a few tons also headed to Japan. 2020/21 sorghum inspections are 4,885,207 tons, compared to 1,982,508 in 2019/20.
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