China top destination for corn, sorghum, soybeans
The USDA says that China was the biggest destination for corn, sorghum, and soybean export inspections during the week ending October 29th. 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 November 10th.
Wheat came out at 287,059 tons, down 112,586 from the week ending October 22nd and 6,912 lower than the week ending October 31st, 2019. The main destinations were South Korea and Japan. Almost five months into the 2020/21 marketing year, wheat inspections are 11,372,672 tons, compared to 10,976,185 in 2019/20.
Corn was reported at 721,623 tons, up 40,800 from the previous week and 437,919 higher than this time last year. China and Mexico were the leading destinations. About two months into the marketing year, corn inspections are 6,867,630 tons, compared to 3,762,491 a year ago.
Soybeans were pegged at 2,082,741 tons, 735,993 less than the week before, but 599,088 more than a year ago. China and Mexico were also the leading destinations for soybeans. So far, this marketing year, soybean inspections are 16,584,920 tons, compared to 9,556,028 last year.
Sorghum totaled 94,454 tons, an increase of 20,923 tons on the week and 27,406 on the year. China was the sole listed destination. 2020/21 sorghum inspections are 637,099 tons, compared to 375,530 in 2019/20.