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Slow pace continues for export inspections
The USDA says that as of the week ending September 23rd, corn, sorghum, soybean, and wheat export inspections are all running behind the previous marketing year’s respective paces. Export operations are slowly resuming at the Louisiana Gulf following damage from Hurricane Ida. 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 October 12th.
Wheat came out at 286,087 tons, down 278,521 from the week ending September 16th and 302,938 from the week ending September 24th, 2020. The main destinations were Nigeria and Thailand. Just over a quarter into the 2021/22 marketing year, wheat inspections are 8,001,185 tons, compared to 9,253,680 in 2020/21.
Corn was reported at 517,539 tons, 114,117 more than the previous week, but 309,456 less than this time last year. The top destinations were Mexico and Japan. Early in the marketing year, corn inspections are 1,139,580 tons, compared to 2,818,589 a year ago.
Soybeans were pegged at 440,742 tons, 163,445 higher than the week before, but 856,854 lower than a year ago. The leading destinations were China and Germany. So far, this marketing year, soybean inspections are 941,822 tons, compared to 5,004,990 last year.
Sorghum totaled 116,758 tons, an increase of 107,551 on the week and 56,066 on the year. The listed destinations were China and Mexico. 2021/22 sorghum inspections are 131,808 tons, compared to 238,097 in 2020/21.
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