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Export inspections mostly down on week

The USDA says that as of the week ending October 21st, corn, soybean, and wheat export inspections are running behind the respective paces needed to meet projections for the current marketing year. The 2021/22 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out November 9th.

Wheat came out at 140,413 tons, down 1,037 from the week ending October 14th and 259,232 from the week ending October 22nd, 2020. The top destinations were Taiwan and Japan. At this point in the 2021/22 marketing year, wheat inspections are 9,478,304 tons, compared to 11,089,774 in 2020/21.

Corn was reported at 545,127 tons, 503,490 under the previous week and 135,696 lower than this time last year. The leading destinations were Mexico and Japan. Less than two months into the marketing year, corn inspections are 4,712,999 tons, compared to 6,169,627 a year ago.

Soybeans were pegged at 2,103,505 tons, a decrease of 346,227 from the week before and 785,255 from a year ago. The main destinations were China and Mexico. So far, this marketing year, soybean inspections are 8,129,440 tons, compared to 14,782,896 last year.

Sorghum totaled 80,090 tons, up 42,100 on the week and 6,559 on the year. The leading destinations were China and Mexico. 2021/22 sorghum inspections are 417,943 tons, compared to 545,094 in 2020/21.

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