News
China top weekly destination for corn, sorghum, wheat
The USDA says that as of the week ending May 6th, 2020/21 corn, sorghum, and soybean export inspections remain well ahead of the 2019/20 pace. The current marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum. The USDA’s next set of supply and demand estimates is out Wednesday, May 12th, at Noon Eastern/11 Central.
Wheat came out at 545,587 tons, up 12,883 tons from the week ending April 29th and 202,170 from the week ending May 7th, 2020. The leading destinations were China and South Korea. With less than a month left in 2020/21, wheat inspections are 23,697,003 tons, compared to 23,440,233 in 2019/20.
Corn was reported at 1,707,142 tons, 504,135 lower than the previous week, but 299,681 higher than this time last year. The top destinations were China and Mexico. With just over a quarter remaining in the marketing year, corn inspections are 45,154,050 tons, compared to 25,183,039 a year ago.
Soybeans were pegged at 236,918 tons, 92,570 more than the prior week, but 298,768 less than a year ago. The primary destinations were Mexico and Indonesia. So far, this marketing year, soybean inspections are 55,696,221 tons, compared to 34,314,529 last year.
Sorghum totaled 125,111 tons, a decrease of 110,385 on the week, but an increase of 46,590 on the year. The largest single destination was China, with a significantly smaller amount headed to Mexico. 2020/21 sorghum inspections are 5,743,029 tons, compared to 2,726,059 in 2019/20.