News

Good week for soybean, wheat export inspections

The USDA says soybean and wheat export inspections for the week ending December 26th were above what’s needed weekly to meet projections for the current marketing year. The 2019/20 marketing year got underway June 1st for wheat and September 1st for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out January 10th.

Wheat came out at 312,017 tons, down 293,528 from the week ending December 19th and 68,404 from the week ending December 27th, 2018. The primary destinations were Indonesia and Japan. More than halfway through the 2019/20 marketing year, wheat inspections are 14,497,684 tons, compared to 12,677,074 in 2018/19.

Corn was reported at 408,946 tons, 7,052 higher than the previous week, but 543,935 lower than this time last year. The main destinations were Mexico and Japan. Just over a quarter into the marketing year, corn inspections are 8,050,874 tons, compared to 17,972,678 a year ago.

Soybeans were pegged at 911,482 tons, 186,266 less than the week before, but 155,329 more than a year ago. China was the top destination, followed by Bangladesh. So far, this marketing year, soybean inspections are 20,719,478 tons, compared to 16,627,065 last year.

Sorghum totaled 4,049 tons, a decrease of 153,352 on the week and 25,720 on the year. The sole destination was Mexico. 2019/20 sorghum inspections are 869,974 tons, compared to 458,712 in 2018/19.