Soybean export inspections up, still trail year ago pace
The USDA says that with less than two months to go in the 2018/19 marketing year, corn, sorghum, and soybean export inspections continue to lag behind the respective 2017/18 paces. The 2019/20 marketing year for wheat started June 1st and gets underway September 1st for beans, corn, and sorghum.
Wheat inspections for the week ending July 11th were 315,518 tons, down 310,743 from the week ending July 4th and 165,687 lower than the week ending July 12th, 2018. The main destinations were Mexico and Taiwan. Early in the 2019/20 marketing year, wheat inspections are 2,915,708 tons, compared to 2,232,055 in 2018/19.
Corn was reported at 676,485 tons, 44,934 less than the previous week and 582,616 below this time last year. Japan and Mexico were the primary recipients of the shipments. Nearing the end of the 2018/19 marketing year, corn inspections are 43,157,694 tons, compared to 48,497,646 in 2017/18.
Soybeans were pegged at 854,373 tons, up 92,724 from the week before and 216,838 higher than a year ago. The top destination was China, followed by Mexico. So far, this marketing year, soybean inspections are 38,718,104 tons, compared to 50,980,358 last year.
Sorghum inspections totaled 55,291 tons, a decrease of 14,852 on the week, but an increase of 54,547 on the year. China and Mexico were the week’s only reported destinations. 2018/19 sorghum inspections are 1,763,863 tons, compared to 4,786,120 in 2017/18.