News
Good week for corn, wheat export inspections
The USDA says corn and wheat export inspections for the week ending May 7th were above what is 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 340,310 tons, down 247,883 from the week ending April 30th and 538,209 lower than the week ending May 9th, 2019. The primary destinations were Japan and the Philippines. With less than a month left in the 2019/20 marketing year, wheat inspections are 23,436,677 tons, compared to 22,830,132 late in 2018/19.
Corn was reported at 1,334,686 tons, 14,004 less than the previous week, but 333,852 more than this time last year. The top weekly destinations were Mexico and Japan. Closing in on the final quarter of the marketing year, corn inspections are 25,012,035 tons, compared to 36,633,297 a year ago.
Soybeans were pegged at 496,498 tons, 115,517 above the week before, but 50,368 below a year ago. Mexico and China were the leading destinations. So far, this marketing year, soybean inspections are 34,361,731 tons, compared to 32,689,164 last year.
Sorghum inspections totaled 76,545 tons, a decrease of 121,814 on the week and 18,399 on the year. China and Japan were the two largest weekly destinations. 2019/20 sorghum inspections are 2,724,083 tons, compared to 1,302,922 in 2018/19.
