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Export inspections mostly up on week
The USDA says that as of the week ending April 28th, wheat export inspections are ahead of what’s needed to meet projections for the current 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 May 12th.
Wheat came out at 384,460 tons, up 94,853 from the week ending April 21st, but down 148,743 from the week ending April 29th, 2021. The main destinations were Mexico and the Philippines. With about a month remaining in the 2021/22 marketing year, wheat inspections are 18,755,678 tons, compared to 23,189,100 late in 2020/21.
Corn was reported at 1,683,994 tons, 18,889 higher than the previous week, but 527,283 lower than a year ago. The leading destinations were China and Colombia. Closing in on the final quarter of the marketing year, corn inspections are 36,577,009 tons, compared to 43,620,219 this time last year.
Soybeans were pegged at 601,282 tons, 4,103 less than the prior week, but 445,908 more than last year. The top destinations were China and Egypt. So far, this marketing year, soybean inspections are 47,206,500 tons, compared to 55,652,995 a year ago.
Sorghum totaled 217,881 tons, an increase of 48,737 on the week, but a decrease of 17,615 on the year. The largest single destination was China, followed distantly by Spain. 2021/22 sorghum inspections are 5,306,921 tons, compared to 5,620,367 in 2020/21.
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