News

Corn, soybean export inspections down on week

The USDA says 2018/19 corn and wheat export inspections for the week ending May 30th were neutral. The 2018/19 marketing year ran through the end of May for wheat and runs the end of August for corn, sorghum, and soybeans.

Wheat came out at 592,744 tons, up 61,947 from the week ending May 30th and 245,275 higher than the week ending May 31st, 2018. The top weekly destinations were Malaysia and Singapore. With just one reporting day left in the 2018/19 marketing year, wheat inspections were 24,792,409 tons, compared to 23,846,517 late in 2017/18.

Corn was reported at 743,077 tons, down 365,650 from the previous week and 812,508 lower than this time last year. Mexico and Colombia were the primary destinations. Entering the final quarter of the marketing year, corn inspections are 39,325,575 tons, compared to 39,590,663 a year ago.

Soybeans were pegged at 498,771 tons, a decrease of 36,412 from the week before and 74,523 from a year ago. The leading destinations for the week were China and Mexico. So far, this marketing year, soybean inspections are 34,221,240 tons, compared to 46,813,556 last year.

Sorghum inspections totaled 64,035 tons, an increase of 35,396 on the week and 63,459 on the year. China was the main destinations, followed by Mexico. 2018/19 sorghum inspections are 1,413,253, compared to 4,720,538 in 2017/18.