News
USDA: China top destination for U.S. soybeans last week
The USDA says that while soybean export inspections have improved in recent weeks, the 2018/19 pace continues to trail 2017/18. As of the week ending August 15th, corn and sorghum also trail last marketing year’s pace, while wheat is moving out faster than expected. The 2019/20 marketing year for wheat got underway June 1st, while 2018/19 for beans, corn and sorghum runs through the end of August.
Wheat came out at 488,905 tons, down 221,728 from the week ending August 8th, but up 416 from the week ending August 16th, 2018. The main destinations were Japan and Mexico. For the 2019/20 marketing year to date, wheat inspections are 5,445,531 tons, compared to 4,354,538 in 2018/19.
Corn was reported at 510,334 tons, 209,476 lower than the previous week and 586,313 less than this time last year. The top destinations were Japan and Mexico. Late in the 2018/19 marketing year, corn inspections are 46,157,132 tons, compared to 55,144,388 towards the end of 2017/18.
Soybeans were pegged at 1,158,217 tons, 213,345 higher than the week before and 497,219 more than a year ago. China was the leading destination, followed by Japan. So far, this marketing year, soybean inspections are 43,484,717 tons, compared to 54,613,471 last year.
Sorghum totaled 56,802 tons, a decrease of 27,727 on the week and 19,504 on the year. The primary destinations for the week were China and Mexico. 2018/19 sorghum inspections are 1,999,024 tons, compared to 4,971,816 in 2017/18.
