Good week for sorghum, soybean export inspections
The USDA says sorghum and soybean export inspections for the week ending February 13th were more than what’s needed 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 March 10th.
Wheat came out at 501,990 tons, down 65,359 from the week ending February 6th, but up 138,467 from the week ending February 14th, 2019. The top destinations for the week were Mexico and Thailand. With just over a quarter left in the 2019/20 marketing year, wheat inspections are 17,730,804 tons, compared to 15,753,830 in 2018/19.
Corn was reported at 795,228 tons, 6,679 higher than the previous week, but 146,583 lower than a year ago. The primary destinations were Mexico and Japan. Closing in on the halfway point of the marketing year, corn inspections are 12,308,616 tons, compared to 24,190,837 this time last year.
Soybeans were pegged at 992,294 tons, 351,674 more than the week before, but 91,273 less than last year. China was the biggest destination, followed by Mexico. So far, this marketing year, soybean inspections are 28,227,053 tons, compared to 23,812,175 a year ago.
Sorghum totaled 74,141 tons, a decrease of 3,436 on the week and 44,114 on the year. China and Japan were the main destinations. 2019/20 sorghum inspections are 1,300,785 tons, compared to 799,017 in 2018/19.
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