Good week for soybean, wheat export inspections


Good week for soybean, wheat export inspections

The USDA says that as of the week ending August 20th, corn, soybean, and wheat export inspections are running ahead of the needed paces for the respective marketing years. The 2020/21 marketing year got underway June 1st for wheat and 2019/20 runs through the end of August for beans, corn, and sorghum.

Wheat came out at 569,593 tons, up 74,913 from the week ending August 13th and 51,019 higher than the week ending August 22nd, 2019. The top destinations for the week were China and the Philippines. For the 2020/21 marketing year to date, wheat inspections are 6,228,505 tons, compared to 6,039,908 in 2019/20.

Corn was reported at 892,031 tons, 183,220 less than the previous week, but 245,592 more than this time last year. Colombia and Mexico were the primary destinations. Nearing the end of the 2019/20 marketing year, corn inspections are 41,266,727 tons, compared to 46,814,947 late in 2018/19.

Soybeans were pegged at 1,150,832 tons, 226,346 above the week before and 184,919 larger than a year ago. The main destinations were China and Egypt. So far, this marketing year, soybean inspections are 42,241,831 tons, compared to 44,451,168 last year.

Sorghum totaled 70,357 tons, a decrease of 13,577 on the week, but an increase of 60,848 on the year. China and Sudan were the listed destinations. 2019/20 sorghum inspections are 4,793,955 tons, compared to 2,008,964 in 2018/19.