Mostly slow week for export inspections
The USDA says corn export inspections for the week ending August 27th were below expectations, while soybeans and wheat fell towards the low end of estimates. The 2020/21 marketing year got underway June 1st for wheat, while 2019/20 runs through the end of August for beans, corn, and sorghum.
Wheat came out at 516,131 tons, down 53,462 from the week ending August 20th and 42,392 lower than the week ending August 29th, 2019. The top destinations were Nigeria and Vietnam. Nearing the end of the first quarter of 2020/21, wheat inspections are 6,744,636 tons, compared to 6,598,431 in 2019/20.
Corn was reported at 402,216 tons, 489,815 less than the previous week, but 44,433 more than this time last year. The main destinations were Mexico and China. Nearing the end of the 2019/20 marketing year, corn inspections are 41,668,943 tons, compared to 47,172,730 late in 2018/19.
Soybeans were pegged at 804,591 tons, a decrease of 418,660 from the week before and 485,823 from a year ago. The leading destinations were China and Mexico. So far, this marketing year, soybean inspections are 43,126,553 tons, compared to 45,741,582 last year.
Sorghum totaled 162,678 tons, an increase of 92,321 on the week and 73,960 on the year. The primary destinations were China and Zimbabwe. 2019/20 sorghum inspections are 4,957,123 tons, compared to 2,097,682 in 2018/19.