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Good pace continues for corn, soybean inspections

The USDA says corn and soybean export inspections, as of the week ending June 17th, continue to run ahead of the pace needed to meet projections for the current marketing year. The 2021/22 marketing year started June 1st, 2021 for wheat, while 2020/21 got underway September 1st, 2020 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out July 12th.

Wheat came out at 548,578 tons, up 48,804 from the week ending June 10th, but down 137,458 from the week ending June 18th, 2020. The leading destinations were the Philippines and Mexico. Just over two weeks into the 2021/22 marketing year, wheat inspections are 1,242,837 tons, compared to 1,485,594 early in 2020/21.

Corn was reported at 1,481,426 tons, 129,107 lower than the previous week, but 175,602 higher than this time last year. The top destinations were China and Mexico. In the final quarter of the 2020/21 marketing year, corn inspections are 55,515,995 tons, compared to 32,103,601 in 2019/20.

Soybeans were pegged at 175,359 tons, 45,823 more than the prior week, but 80,451 less than a year ago. The main destinations were Indonesia and Japan. So far, this marketing year, soybean inspections are 56,983,618 tons, compared to 36,486,985 last year.

Sorghum totaled 18,330 tons, a decline of 133,410 on the week and 92,129 on the year. The listed destinations were Somalia and South Korea. 2020/21 sorghum inspections are 6,436,284 tons, compared to 3,852,299 in 2019/20.

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