Mixed week for U.S. export inspections
The USDA says wheat export inspections as of the week ending September 16th are slightly ahead of the pace needed to meet expectations for the current marketing year. Shipping issues out of the U.S. Gulf continue to limit movement somewhat. 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 October 12th.
Wheat came out at 563,390 tons, down 4,048 from the week ending September 9th, but up 60,356 from the week ending September 17th, 2020. The leading destinations were Mexico and the Philippines. Just over a quarter into the 2021/22 marketing year, wheat inspections are 7,713,880 tons, compared to 8,664,655 in 2020/21.
Corn was reported at 403,104 tons, 243,675 higher than the previous week, but 364,980 lower than this time last year. The main destinations were Mexico and China. Early in the marketing year, corn inspections are 601,986 tons, compared to 1,991,594 a year ago.
Soybeans were pegged at 275,169 tons, 81,740 more than the prior week, but 1,115,352 less than a year ago. The top destinations were Mexico and Japan. So far, this marketing year, soybean inspections are 498,952 tons, compared to 3,707,394 last year.
Sorghum totaled 8,130 tons, an increase of 3,604 on the week, but a decrease of 63,714 on the year. The listed destinations were Mexico and Madagascar. 2021/22 sorghum inspections are 13,973 tons, compared to 177,405 in 2020/21.