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Soybean export inspections down on week, year
The USDA says soybean export inspections during the week ending January 6th were below the mark 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 beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out Wednesday, January 12th at Noon Eastern/11 Central.
Wheat came out at 233,159 tons, up 2,798 from the week ending December 30th, 2021, but down 48,197 from the week ending January 7th, 2021. The top destinations were Japan and Indonesia. For the 2021/22 marketing year to date, wheat inspections are 12,431,651 tons, compared to 15,296,793 in 2020/21.
Corn was reported at 1,022,677 tons, 263,114 higher than the previous week, but 322,690 lower than this time last year. The leading destinations were Mexico and China. At this point in the marketing year, corn inspections are 14,084,268 tons, compared to 16,564,135 a year ago.
Soybeans were pegged at 905,149 tons, a decrease of 709,009 from the week before and 1,004,068 from a year ago. The main destinations were China and Japan. So far, this marketing year, soybean inspections are 31,646,567 tons, compared to 41,129,711 last year.
Sorghum totaled 201,482 tons, an increase of 199,531 on the week and 68,021 on the year. Most of that was to China, followed by a much smaller amount to Mexico. 2021/22 sorghum inspections are 1,930,821 tons, compared to 2,481,721 in 2020/21.
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