Soybean, corn inspections stay ahead of needed pace
The USDA says that as of the week ending July 22nd, 2021, corn and soybean export inspections remain on pace to exceed 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.
Wheat came out at 477,964 tons, down 54,934 from the week ending July 15th and 66,046 from the week ending July 23rd, 2020. The leading destinations were Mexico and China. Nearly two months into the 2021/22 marketing year, wheat inspections are 3,344,650 tons, compared to 4,130,890 in 2020/21.
Corn was reported at 1,036,910 tons, 39,758 lower than the previous week, but 196,114 higher than this time last year. The top destinations were China and Japan. With just over a month left in 2020/21, corn inspections are 61,276,281 tons, compared to 37,358,824 late in 2019/20.
Soybeans were pegged at 241,897 tons, 97,963 more than the prior week, but 263,434 less than a year ago. The main destinations were Mexico and Bangladesh. So far, this marketing year, soybean inspections are 58,041,712 tons, compared to 38,826,741 last year.
Sorghum totaled 90,792 tons, an increase of 27,600 on the week and 6,708 on the year. The biggest single destination was China, followed by Zimbabwe. 2020/21 sorghum inspections are 6,710,753 tons, compared to 4,350,597 in 2019/20.