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Good week for sorghum, soybean export inspections

The USDA says sorghum and soybean export inspections during the week ending January 23rd were above what’s needed to meet projections for the current marketing year. The 2019/20 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum. The next set of supply and demand estimates is out February 11th.

Wheat came out at 223,994 tons, down 292,315 from the week ending January 16th and 143,610 lower than the week ending January 24th, 2019. The leading destinations were Japan and Mexico. For the 2019/20 marketing year to date, wheat inspections are 16,223,914 tons, compared to 14,384,336 in 2018/19.

Corn was reported at 668,559 tons, 271,946 more than the previous week, but 300,026 less than this time last year. The top destinations for the week were Colombia and Mexico. At this point in the marketing year, corn inspections are 10,150,559 tons, compared to 21,584,077 a year ago.

Soybeans were pegged at 1,038,840 tons, 167,300 below the week before, but 94,160 above a year ago. China was the primary destination, followed by Ecuador. So far, this marketing year, soybean inspections are 25,214,900 tons, compared to 20,484,903 last year.

Sorghum totaled 142,217 tons, an increase of 111,212 on the week and 134,612 on the year. China and Japan were the main weekly destinations. 2019/20 sorghum inspections are 1,130,903 tons, compared to 572,227 in 2018/19.

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