Generally slow week for export inspections
The USDA says sorghum export inspections during the week ending March 5th were just over 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 415,548 tons, down 240,612 from the week ending February 27th and 200,167 lower than the week ending March 7th, 2019. The main destinations were South Korea and Mexico. With less than a quarter remaining in 2019/20, wheat inspections are 19,228,487 tons, compared to 17,625,944 in 2018/19.
Corn was reported at 829,865 tons, 66,356 less than the previous week, but 36,115 more than this time last year. The top weekly destinations were Mexico and Japan. Just over halfway through the marketing year, corn inspections are 14,947,795 tons, compared to 26,611,680 a year ago.
Soybeans were pegged at 572,416 tons, a decline of 99,758 from the week before and a drop of 316,274 from a year ago. Japan and China were the primary destinations. So far, this marketing year, soybean inspections are 30,130,673 tons, compared to 26,858,270 last year.
Sorghum totaled 58,711 tons, a decrease of 14,496 on the week and 5,447 on the year. Ethiopia and Djibouti were the leading destinations. 2019/20 sorghum inspections are 1,460,388 tons, compared to 949,182 in 2018/19.