News

Good week for corn export inspections

The USDA says corn export inspections for the week ending May 28th were more than what’s needed to meet projections for the current marketing year, with wheat already having passed its’ mark. The 2019/20 marketing year officially ended May 31st for wheat and runs through the end of August for corn, sorghum, and soybeans.

Wheat came out at 499,353 tons, up 34,496 from the week ending May 21st, but down 93,784 from the week ending May 30th, 2019. The top destinations were China and the Philippines. With just a few reporting days left in the 2019/20 marketing year, wheat inspections are 24,895,770 tons, compared to 24,795,126 late in 2018/19.

Corn was reported at 1,128,091 tons, 30,482 higher than the previous week and 383,251 above this time last year. The primary destinations for the week were Japan and Mexico. Nearing the final quarter of the marketing year, corn inspections are 28,484,807 tons, compared to 39,327,338 a year ago.

Soybeans were pegged at 396,387 tons, 53,816 more than the prior week, but 114,095 less than a year ago. Egypt and Japan were the main destinations. So far, this marketing year, soybean inspections are 35,407,043 tons, compared to 34,234,984 last year.

Sorghum totaled 125,119 tons, a decrease of 62,959 on the week, but an increase of 61,084 on the year. The biggest destinations were China and Eritrea. 2019/20 sorghum inspections are 3,317,783 tons, compared to 1,413,253 in 2018/19.