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.

Weekly Grain Movement – Corn climbs higher

DarcyMaulsby/ThinkstockPhotos Corn flowing into grate.
Soybean volume also moves slightly higher, with wheat on a moderate decline.

The latest weekly grain export inspection report from USDA, out Monday morning and covering the week through April 22, held mostly positive numbers for traders to digest. Corn volume saw moderate week-over-week gains, with soybeans also slightly above the prior week’s tally. Wheat volume was down from a week ago but still landed on the higher end of trade estimates.

Corn export inspections shifted 25% ahead of the prior week’s tally to reach 76.8 million bushels. That was also better than all trade estimates, which ranged between 43.3 million and 66.9 million bushels. Cumulative totals for the 2020/21 marketing year are still nearly doubling last year’s pace so far, with 1.623 billion bushels since September 1.

China led all destinations for U.S. corn export inspections last week, with 24.9 million bushels. Japan, Mexico, South Korea and the Dominican Republic rounded out the top five.

Sorghum export inspections saw another 7.2 million bushels last week, trailing the prior week’s total by 42%. The entirety of that grain is bound for China. Cumulative totals for the 2020/21 marketing year are still far ahead of last year’s pace, with 211.9 million bushels.

Soybean export inspections inched slightly ahead of the prior week’s tally, to 8.6 million bushels. That was also near the middle of trade guesses, which ranged between 5.5 million and 11.0 million bushels. Cumulative totals for the 2020/21 marketing year still have a commanding lead over last year’s pace, with 2.031 billion bushels.

Mexico (2.5 million) and Japan (2.2 million) were the top two destinations for U.S. soybean export inspections last week. Saudi Arabia, Indonesia and Taiwan filled out the top five.

Wheat export inspections faced a moderate week-over-week decline, dropping to 20.7 million bushels. That was still on the higher end of trade guesses, which ranged between 14.7 million and 23.0 million bushels. And cumulative totals for the 2020/21 marketing year are still slightly ahead of last year’s pace, with 830.4 million bushels.

China was the No. 1 destination for U.S. wheat export inspections, with just under 6.0 million bushels last week. South Korea, Japan, Yemen and Mexico rounded out the top five.

Click here for more highlights from the latest USDA grain export inspection report.

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