News

Soybean export inspections maintain needed pace

The USDA says soybean export inspections during the week ending January 2nd were above what’s needed to meet projections for the 2019/20 marketing year. The current marketing year got underway June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out Friday, January 10th at Noon Eastern/11 Central.

Wheat came out at 345,109 tons, up 33,019 from the week ending December 26th and 81,191 higher than the week ending January 3rd, 2018. The top destinations for the week were Nigeria and the Philippines. At this point in the 2019/20 marketing year, wheat inspections are 14,846,048 tons, compared to 12,940,992 in 2018/19.

Corn was reported at 550,930 tons, 141,984 larger than the previous week and 49,365 more than this time last year. Mexico and Colombia were the leading destinations. For the marketing year to date, corn inspections are 8,601,828 tons, compared to 18,474,243 a year ago.

Soybeans were pegged at 963,830 tons, 27,971 less than the week before, but 281,312 more than a year ago. China was the main destination, followed by Egypt. So far, this marketing year, soybean inspections are 21,744,427 tons, compared to 17,309,583 last year.

Sorghum totaled 67,388 tons, an increase of 63,339 on the week and 35,585 on the year. China and Mexico were the primary weekly destinations. 2019/20 sorghum inspections are 937,362 tons, compared to 490,515 in 2018/19.