Tridge summary
The USDA says corn, soybean, wheat export inspections as of the week ending November 18th remain behind the pace needed to meet 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 December 9th.Wheat came out at 177,799 tons, down 212,909 from the week ending November 11th and 185,849 from the week ending November 19th, 2020. The top destinations were South Korea and Mexico. Nearing the end of the first half of 2021/22, wheat inspections are 10,487,547 tons, compared to 12,404,933 in 2020/21.Corn was reported at 618,490 tons, 248,401 lower than the previous week and 214,807 under a year ago. The main destinations were Mexico and China. Closing in on the end of the first quarter of the marketing year, corn inspections are 7,608,249 tons, compared to 9,298,336 last year.Soybeans were pegged at 1,684,138 tons, a decrease of 678,335 from the prior week and 606,640 from a year ago. The leading destinations were China and Mexico. So far, this marketing year, soybean inspections are 18,161,153 tons, compared to 24,847,364 last year.Sorghum totaled 162,448 tons, an increase of 151,939 on the week and 40,079 on the year. The largest destinations were China and Somalia. 2021/22 sorghum inspections are 677,151 tons, compared to 1,099,791 in 2020/21.