News

USDA: mostly bullish week for export inspections

The USDA says sorghum, soybean, and wheat export inspections during the week ending October 24th were more than what’s needed to meet projections for the current marketing year. The 2019/20 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out November 8th.

Wheat came out at 523,262 tons, down 57,418 from the week ending October 17th, but up 129,323 from the week ending October 25th, 2018. The top destinations for the week were Yemen and Japan. At this point in the 2019/20 marketing year, wheat inspections are 10,602,234 tons, compared to 8,614,623 in 2018/19.

Corn was reported at 380,660 tons, 199,297 lower than the previous week and 357,675 less than a year ago. Saudi Arabia and Mexico were the leading destinations. For the marketing year to date, corn inspections are 3,466,936 tons, compared to 8,695,986 this time last year.

Soybeans were pegged at 1,568,399 tons, 237,490 higher than the week before and 215,664 more than last year. China was the main destination, followed by Mexico. So far, this marketing year, soybean inspections are 8,061,680 tons, compared to 7,375,243 a year ago.

Sorghum totaled 52,226 tons, an increase of 30,240 on the week and 48,393 on the year. Sudan and Mexico were the primary destinations. 2019/20 sorghum inspections are 302,388 tons, compared to 136,947 in 2018/19.