Solid week for sorghum, wheat export inspections
The USDA says sorghum and wheat export inspections for the week ending February 27th were above 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 654,097 tons, up 217,160 from the week ending February 20th and 165,268 higher than the week ending February 28th, 2019. The primary destinations were Thailand and Mexico. With just over a quarter left in the 2019/20 marketing year, wheat inspections are 18,825,725 tons, compared to 17,010,229 in 2018/19.
Corn was reported at 896,221 tons, 16,701 less than the previous week, but 30,594 more than this time last year. The top weekly destinations were Japan and Mexico. About halfway through the marketing year, corn inspections are 14,177,930 tons, compared to 25,818,110 a year ago.
Soybeans were pegged at 670,608 tons, 74,334 above the week before, but 178,287 below a year ago. Egypt and Mexico were the main destinations. So far, this marketing year, soybean inspections are 29,556,691 tons, compared to 25,969,580 last year.
Sorghum inspections totaled 73,207 tons, an increase of 56,546 on the week and 14,471 on the year. Most of that was headed to China and Mexico. 2019/20 sorghum inspections are 1,401,677 tons, compared to 885,024 in 2018/19.