China, Mexico lead the way for export inspections
The USDA says soybean export inspections for the week ending November 19th were more than what’s needed to meet projections for the current marketing year. The 2020/21 marketing year got underway June 1st for wheat and September 1st for beans, corn, and sorghum.
Wheat came out at 358,077 tons, up 23,677 from the week ending November 12th, but down 77,017 from the week ending November 21st. The top destinations were China and Mexico. Closing in on the halfway point for the 2020/21 marketing year, wheat inspections are 12,395,660 tons, compared to 12,354,248 in 2019/20.
Corn was reported at 832,637 tons, 7,644 lower than the previous week, but 215,735 higher than a year ago. The leading destinations for corn were China and Mexico. Almost a quarter into the marketing year, corn inspections are 9,250,302 tons, compared to 5,612,396 this time last year.
Soybeans were pegged at 2,009,976 tons, 456,739 less than the week before, but 57,612 more than last year. The main destinations were China and Mexico. So far, this marketing year, soybean inspections are 24,418,257 tons, compared to 14,395,208 a year ago.
Sorghum totaled 121,096 tons, a decrease of 66,262 on the week, but an increase of 114,438 on the year. China was the lone listed destination. 2020/21 sorghum inspections are 1,096,069 tons, compared to 452,944 in 2019/20.