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Mixed week for U.S. export inspections

More than 400,000 tons of U.S. soybeans left U.S. ports for China last week. According to the USDA’s weekly export inspections report, China was the top destination for U.S. beans for the week ending February 14th, followed by Mexico and the European Union, ahead of more trade talks this week. Soybean inspections have improved, but 2018/19 inspections remain far behind the 2017/18 pace. The 2018/19 marketing year runs through the end of May for wheat and the end of August for beans, corn, and sorghum.

Wheat came out at 357,131 tons, down 205,575 from the week ending February 7th and 67,100 lower than the week ending February 15th, 2018. The leading destinations were Mexico, Japan, and South Korea. At this point in the 2018/19 marketing year, wheat inspections are 15,747,362 tons, compared to 17,568,207 in 2017/18.

Corn was reported at 941,811 tons, 190,392 more than the previous week, but 1,776 less than this time last year. Japan and Mexico were the top destinations. For the marketing year to date, corn inspections are 24,170,438 tons, compared to 16,680,509 a year ago.

Soybeans were pegged at 1,031,294 tons, 35,886 tons below the week before, but 339,244 above a year ago. So far, this marketing year, soybean inspections are 23,664,973 tons, compared to 37,014,033 last year.

Sorghum totaled 118,255 tons, an increase of 33,877 on the week, but a decrease of 202,035 on the year. Italy and Spain were the leading destinations for sorghum. 2018/19 sorghum inspections are 799,017 tons, compared to 2,688,556 in 2017/18.