Soybean export inspections top 2 million tons

The USDA says corn, sorghum, and soybean export inspections as of the week ending January 14th, 2021 continue to run ahead of the pace needed to meet projections for the current marketing year. The 2020/21 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out February 9th.

Wheat came out at 276,898 tons, down 4,189 from the week ending January 7th and 239,910 from the week ending January 16th, 2020. The top destinations were Indonesia and Mexico. At this point in the 2020/21 marketing year, wheat inspections are 15,568,860 tons, compared to 15,985,872 in 2019/20.

Corn was reported at 876,774 tons, 436,993 lower than the previous week, but 479,860 higher than this time last year. The main destinations were Mexico and Colombia. For the marketing year to date, corn inspections are 17,275,616 tons, compared to 9,483,581 a year ago.

Soybeans were pegged at 2,058,399 tons, an increase of 210,622 from the week before and 850,152 from last year. The leading destinations were China and Spain. So far, this marketing year, soybean inspections are 42,956,889 tons, compared to 24,180,346 a year ago.

Sorghum totaled 159,495 tons, 26,034 more than the prior week and 128,490 larger than a year ago. China was the biggest single destination by a wide margin, followed by Mexico. 2020/21 sorghum inspections are 2,638,767 tons, compared to 988,758 in 2019/20.

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