News

Good pace continues for soybean export inspections

The USDA says soybean export inspections were more than what’s needed to meet 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 435,129 tons, down 125,847 from the week ending January 9th and 89,813 lower than the week ending January 17th, 2019. The primary destinations were Indonesia and Mexico. For the 2019/20 marketing year to date, wheat inspections are 15,917,942 tons, compared to 14,016,732 in 2018/19.

Corn was reported at 345,859 tons, 137,700 below the previous week and a decline of 781,420 from this time last year. The main destinations were Mexico and Colombia. At this point in the marketing year, corn inspections are 9,431,246 tons, compared to 20,615,492 a year ago.

Soybeans were pegged at 1,199,136 tons, up 49,732 from the week before and 68,830 higher than a year ago. China was the top destination, followed by Mexico. So far, this marketing year, soybean inspections are 24,169,056 tons, compared to 19,540,223 last year.

Sorghum inspections totaled 18,875 tons, a decrease of 1,444 on the week and 46,970 on the year. The listed destinations were Japan and Mexico. 2019/20 sorghum inspections are 976,556 tons, compared to 564,622 in 2018/19.