United States: Weekly grain movement, corn boasts best results
Sorghum
Published Apr 26, 2022
Tridge summary
USDA’s new set of grain export inspection data, out Monday morning and covering the week through April 21, held mostly disappointing numbers for traders to digest. Wheat totals were lackluster after a weekly decline of 35%, and soybeans landed on the very low end of trade estimates. Corn volume was a pleasant surprise, meantime, jumping more than 40% higher week-over-week and besting the entire range of analyst estimates.
Original content
Corn export inspections moved moderately higher from a week ago to reach 65.0 million bushels. That was better than all trade guesses, which ranged between 39.4 million and 59.1 million bushels. Cumulative totals for the 2021/22 marketing year are still well behind last year’s pace, however, with 1.373 billion bushels. Japan (13.7 million) and Mexico (13.5 million) were the top two destinations for U.S. corn export inspections last week. China, South Korea and Colombia rounded out the top five. Sorghum export inspections spilled to nearly half of the prior week’s volume, with 6.6 million bushels. China accounted for the bulk of that total, with Spain and Mexico picking up the remainder. Cumulative totals for the 2021/22 marketing year are trending slightly lower year-over-year, with 200.3 million bushels. Soybean export inspections shifted 40% lower from a week ago, to 22.1 million bushels. That was nearly below the entire range of trade guesses, which came in between 22.0 million ...
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