Soybean export inspections continue remain slow


Soybean export inspections continue remain slow

The USDA says corn, sorghum, and wheat export inspections for the week ending July 16th were above what’s needed weekly to meet projections for the current respective marketing years. The 2020/21 marketing year started June 1st for wheat, while 2019/20 runs through the end of August for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out August 12th.

Wheat came out at 500,607 tons, down 159,120 from the week ending July 9th, but up 53,319 from the week ending July 18th, 2019. The primary destinations were China and Yemen. About a month and a half into the 2020/21 marketing year, wheat inspections are 3,575,182 tons, compared to 3,408,348 in 2019/20.

Corn was reported at 1,149,353 tons, 231,385 higher than the previous week and 710,809 larger than this time last year. The top destinations were Mexico and Japan. With about a month and a half left in the 2019/20 marketing year, corn inspections are 36,348,023 tons, compared to 43,640,204 in 2018/19.

Soybeans were pegged at 452,811 tons, 30,520 lower than the week before and 110,231 below a year ago. The biggest destinations were the Netherlands and Egypt. So far, this marketing year, soybean inspections are 38,315,021 tons, compared to 39,282,631 last year.

Sorghum totaled 71,965 tons, an increase of 430 on the week and 10,621 on the year. China was the sole listed destination. 2019/20 sorghum inspections are 4,211,400 tons, compared to 1,831,602 in 2018/19.