Sorghum, soybean export inspections up on week
The USDA says that as of the week ending July 4th, corn, sorghum, and soybean export inspections for the 2018/19 marketing year are significantly slower than the respective 2017/18 paces. The 2018/19 marketing year for beans, corn, and sorghum runs through the end of August, while the 2019/20 marketing year for wheat started June 1st.
Wheat came out at 609,456 tons, down 86,686 from the week ending June 27th, but up 341,235 from the week ending July 5th, 2018. The primary weekly destinations were the Philippines and Nigeria. About a month into the 2019/20 marketing year, wheat inspections are 2,593,545 tons, compared to 1,751,010 near the outset of 2018/19.
Corn was reported at 703,192 tons, 418,269 higher than the previous week, but 774,807 lower than this time last year. Mexico and Japan were the top destinations. With roughly two months remaining in 2018/19, corn inspections are 42,462,982 tons, compared to 47,238,545 in 2017/18.
Soybeans were pegged at 757,903 tons, 37,061 more than the week before and 89,889 above a year ago. The main destinations were China and Japan. So far, this marketing year, soybean inspections are 37,859,985 tons, compared to 50,342,823 last year.
Sorghum totaled 70,143 tons, an increase of 13,888 on the week and 55,860 on the year. China was the biggest weekly destination, followed by Mexico. 2018/19 sorghum inspections are 1,708,572 tons, compared to 4,785,376 in 2017/18.