News

Solid week for sorghum, soybean export inspections

The USDA says sorghum and soybean export inspections remain ahead of what’s needed to meet projections for the current marketing year. The primary destination for both beans and sorghum during the week ending December 19th was China, which uses both for livestock feed and uses sorghum to produce alcohol. Corn and wheat inspections failed to meet their respective marks because of heavy competition from other exporters. The USDA’s next set of supply and demand estimates is out January 10th.

The 2019/20 marketing year got underway June 1st for wheat and September 1st for corn, sorghum, and soybeans.

Wheat came out at 578,458 tons, up 68,275 from the week ending December 12th but down 336 from the week ending December 20th, 2018. The primary destinations were the Philippines and Mexico. More than halfway through the 2019/20 marketing year, wheat inspections are 14,158,335 tons, compared to 12,296,653 in 2018/19.

Corn was reported at 387,188 tons, 312,485 lower than the previous week and 627,743 less than this time last year. The main destinations were Mexico and Japan. Just over a quarter into the marketing year, corn inspections are 7,627,222 tons, compared to 17,019,797 a year ago.

Soybeans were pegged at 1,083,866 tons, 251,607 below the week before, but 384,237 above a year ago. China and the Netherlands were the top weekly destinations. So far, this marketing year, soybean inspections are 19,794,114 tons, compared to 15,870,912 last year.

Sorghum totaled 157,401 tons, an increase of 79,837 on the week and 123,473 on the year. The listed destinations were China and Mexico. 2019/20 sorghum inspections are 865,925 tons, compared to 428,943 in 2018/19.