Soybean export inspections slow down

The USDA says the pace of soybean export inspections pulled back a little during the week ending February 11th but remains on track to meet or exceed projections for the current marketing year. The 2021/22 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 March 9th.

Wheat came out at 392,555 tons, down 60,412 from the week ending February 4th and 112,699 lower than the week ending February 13th, 2020. The top destinations were Japan and Mexico. Closing in on the 4th quarter of the 2020/21 marketing year, wheat inspections are 17,407,905 tons, compared to 17,720,296 in 2019/20.

Corn was reported at 1,322,412 tons, 262,733 less than the previous week, but 527,013 more than this time last year. The leading destinations were Japan and Mexico. At this point in the marketing year, corn inspections are 22,781,818 tons, compared to 12,386,309 a year ago.

Soybeans were pegged at 809,574 tons, 1,094,925 below the week before and 195,525 under a year ago. The main destinations were China and Mexico. So far, this marketing year, soybean inspections are 50,080,957 tons, compared to 28,258,884 last year.

Sorghum totaled 70,153 tons, a decrease of 131,407 on the week and 14,988 on the year. China was the biggest single destination, followed by Mexico. 2020/21 sorghum inspections are 3,336,950 tons, compared to 1,311,809 in 2019/20.

Brownfield

Tags: corn, USDA, trade, Grains, crops, News, soybens