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Soybean, wheat export inspections up on week
The USDA says wheat export inspections as of the week ending May 12th are in-line with what’s 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 corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out June 10th.
Wheat came out at 348,048 tons, up 85,129 from the week ending May 5th, but down 312,250 from the week ending May 13th, 2021. The top destinations were Mexico and Taiwan. In the final month of the 2021/22 marketing year, wheat inspections are 19,376,283 tons, compared to 24,412,996 in 2020/21.
Corn was reported at 1,036,549 tons, 440,697 lower than the previous week and 957,887 below a year ago. The leading destinations were South Korea and Mexico. Nearing the last quarter of the marketing year, corn inspections are 39,102,991 tons, compared to 47,330,954 this time last year.
Soybeans were pegged at 784,187 tons, 279,746 higher than the week before and 473,779 above last year. The main destinations were Egypt and Indonesia. So far, this marketing year, soybean inspections are 48,498,581 tons, compared to 56,240,493 a year ago.
Sorghum totaled 199,012 tons, 71,840 less than the prior week, but 139,063 more than a year ago. The listed destinations were China and Mexico. 2021/22 sorghum inspections are 5,776,425 tons, compared to 5,805,427 in 2020/21.
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