China top destination for weekly export inspections
The USDA says that as of the week ending December 31st, 2020, corn and soybean export inspections remain ahead of the pace needed to meet projections for the current marketing year. The 2020/21 marketing year started June 1st, 2020 for wheat and September 1st, 2020 for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out January 12th.
Wheat came out at 324,983 tons, down 81,992 from the week ending December 24th, 2020 and 95,670 from the week ending January 4th, 2020. The top destinations were China and the Philippines. At this point in the 2020/21 marketing year, wheat inspections are 14,859,935 tons, compared to 14,907,290 in 2019/20.
Corn was reported at 912,802 tons, 342,539 lower than the previous week, but 361,872 higher than this time last year. The main destinations were China and Mexico. For the marketing year to date, corn inspections are 14,908,437 tons, compared to 8,603,108 a year ago.
Soybeans were pegged at 1,305,786 tons, 896,121 less than the week before, but 266,111 more than a year ago. The primary destinations were China and Mexico. So far, this marketing year, soybean inspections are 38,542,542 tons, compared to 21,820,516 last year.
Sorghum totaled 82,687 tons, a decrease of 174,780 on the week, but an increase of 15,227 on the year. The lone listed destination was China. 2020/21 sorghum inspections are 2,271,696 tons, compared to 937,434 in 2019/20.