Good week for corn, sorghum export inspections
The USDA says corn and sorghum export inspections for the week ending March 26th were above 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 corn, sorghum, and soybeans.
Wheat came out at 363,881 tons, up 9,415 from the week ending March 19th, but down 90,993 from the week ending March 28th, 2019. The top destinations for the week were Mexico and Indonesia. With less than a quarter left in 2019/20, wheat inspections are 20,461,195 tons, compared to 18,850,904 in 2018/19.
Corn was reported at 1,269,074 tons, 411,087 higher than the previous week and 9,807 more than this time last year. The leading weekly destinations were Japan and Mexico. More than halfway through the marketing year, corn inspections are 18,061,643 tons, compared to 29,680,005 a year ago.
Soybeans were pegged at 413,957 tons, 173,441 lower than the week before and 298,071 less than a year ago. Mexico and Bangladesh were the biggest destinations, with only 2,057 tons headed to China. So far, this marketing year, soybean inspections are 31,584,713 tons, compared to 29,279,951 last year.
Sorghum totaled 139,000 tons, an increase of 37,923 on the week and 73,636 on the year. China and Japan were than main destinations for the week. 2019/20 sorghum inspections are 1,777,736 tons, compared to 1,043,300 in 2018/19.