Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Serving: United States
grain barge river elevator DarcyMaulsby /iStock/Thinkstock.
This barge on the Mississippi River in eastern Iowa is taking on a load of grain, either corn or soybeans, from area farms.

Weekly Grain Movement – 'Big Three' continue to trend lower

Corn, soybeans and wheat volume all fall again last week.

The latest batch of grain export inspection data from USDA, out Monday morning and covering the week through September 17, show a second week of declines for corn, soybean and wheat volume, although each crop stayed within the range of trade estimates.

Corn export inspections spilled 20% lower week-over-week to 29.7 million bushels. That was on the lower end of trade estimates, which ranged between 25.6 million and 35.4 million bushels. Cumulative totals for the 2020/21 marketing year are off to a much better start compared to last year after reaching 77.4 million bushels since September 1.

China topped all destinations for U.S. corn export inspections last week, with 7.9 million bushels, followed by Colombia’s 5.3 million bushels. Peru, South Korea and Mexico rounded out the top five.

Sorghum export sales were trimmed in half week over week, falling to 2.8 million bushels. Year-over-year sales for the 2020/21 marketing year are still solidly above the start to 2019/20, with 9.7 million bushels since the start of September. Last week, China accounted for more than 99% of the total volume, with Italy picking up the tiny remainder.

Soybean export inspections fell again last week, dropping to 48.2 million bushels. That was in the middle of trade estimates, which ranged between 36.7 million and 58.1 million bushels. Cumulative totals for the 2020/21 marketing year are still well ahead of last year’s pace after reaching 131.1 million bushels.

China accounted for around two-thirds of all U.S. soybean export inspections last week, with 32.5 million bushels. Indonesia, the Netherlands, Italy and Egypt rounded out the top five.

Wheat export inspections fell to 17.3 million bushels last week, dropping to the lower end of trade estimates, which ranged between 16.5 million and 25.7 million bushels. Cumulative totals for the 2020/21 marketing year are still moderately ahead of last year’s pace, at 316.9 million bushels.

Japan was the No. 1 destination for U.S. wheat export inspections last week, with 3.5 million bushels. Brazil, Thailand, China and Vietnam filled out the top five.

Click here to review the latest round of grain export inspection data from USDA.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish