Disappointing #corn and #wheat export inspections in the final full week of 2020/21, but #soybeans topped expectations. 2 corn cargoes, 1 soybean and 1 sorghum cargo were inspected for #China.
As of Aug. 26, some 17.75 million tonnes (652 mbu) of U.S. #soybeans had been sold for export in 2021/22 (started Sept. 1). That is above average for the date but off last year's high of near 24 mmt, and it represents 32% of USDA's full 2021/22 export target.
USA shipped negligible amounts of #soybeans to #China between April and July, though the August volume likely hit a five-month high. Sept-July exports reached 35.1 mmt (1.29 bbu). Full-year (Sept-Aug) record is 36.1 mmt in 2016/17.
It's important to track non-#China export demand for U.S. #corn & #soybeans, too. Export prices rose to 8-year highs this summer, likely curbing sales and shipments. Shipped U.S. corn costs have recently been about 62% above the five-year average, soybeans 52% above.
Reuters reporting that #China has cancelled at least 5-7 shipments of feed barley from Ukraine, possibly another sign Chinese feed demand may not live up to expectations. China's hope for a strong corn harvest is also cited as a factor for reduced import needs.
