Export inspections mostly down on week
The USDA says corn and soybean export inspections as of the week ending May 26th are behind the pace needed to meet expectations 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 June 10th.
Wheat came out at 343,927 tons, up 68,386 from the week ending May 19th and 26,649 from the week ending May 27th, 2021. The main destinations were Nigeria and the Philippines. Late in the 2021/22 marketing year, wheat inspections are 19,994,985 tons, compared to 25,329,215 in 2020/21.
Corn was reported at 1,390,851 tons, down 361,610 from the previous week and 713,512 from this time last year. The primary destinations were China and Japan. Nearing the final quarter of the marketing year, corn inspections are 42,277,507 tons, compared to 51,181,479 a year ago.
Soybeans were pegged at 378,262 tons, 202,805 less than the prior week, but 173,154 more than a year ago. The leading destinations were Germany and China. So far, this marketing year, soybean inspections are 49,477,106 tons, compared to 56,667,708 last year.
Sorghum totaled 143,710 tons, a decrease of 55,578 on the week and 93,245 on the year. The largest single destination was China, followed distantly by Mexico. 2021/22 sorghum inspections are 6,119,839 tons, compared to 6,206,079 in 2020/21.