News
China, Mexico top weekly destinations for soybeans
The USDA says sorghum and soybean export inspections during the week ending November 28th were more than what’s needed weekly to meet USDA projections for the 2019/20 marketing year. The current marketing year got underway June 1st for wheat and September 1st for beans, corn, and sorghum.
Wheat came out at 246,988 tons, down 187,715 from the week ending November 21st and 228,757 lower than the week ending November 29th, 2018. The main destinations were Japan and Ethiopia. Nearly halfway through the 2019/20 marketing year, wheat inspections are 12,615,422 tons, compared to 10,582,696 in 2018/19.
Corn was reported at 428,856 tons, 187,112 below the previous week and a drop of 634,839 from a year ago. Mexico and Japan were the top destinations. At this point in the marketing year, corn inspections are 6,039,038 tons, compared to 14,230,025 this time last year.
Soybeans were pegged at 1,547,507 tons, 404,363 less than the week before, but 501,676 more than last year. The leading weekly destinations were China and Mexico. So far, this marketing year, soybean inspections are 15,941,477 tons, compared to 13,258,418 a year ago.
Sorghum totaled 132,867 tons, an increase of 127,191 on the week and 24,906 on the year. China was the biggest single destination, followed by Mexico and South Korea. 2019/20 sorghum inspections are 584,829 tons, compared to 353,093 in 2018/19.
