Karen Braun@kannbwx

U.S. #corn export inspections slightly topped expectations last week at more than 2 million tonnes.

 About 1.04 mmt corn was inspected for #China. The 2020/21 #wheat marketing year ended Monday, and inspections imply exports may have missed the annual goal.

Export sales:

https://apps.fas.usda.gov/export-sales/highlite.htm

@kannbwx

Old-crop U.S. #corn sales through May 27 were better than expected with 180kt to Japan (126kt switched from unknown) and 159kt to #China (63.8kt switched). 

Exports were 2.13 mmt (1.1 mmt to China). Unknown, Japan, Mexico and Canada bought new-crop corn.

@kannbwx

U.S. #ethanol output last week hit 1.034M bpd, a post-pandemic high. That lifts the 4-week average over 1M bpd, down 0.8% on the '17-'19 avg for the period.

 If this rate continues through August, USDA might have to bump old-crop #corn for ethanol just a bit.