Corn, Soy Inspections Bullish

By Todd Hultman
DTN Analyst

OMAHA (DTN) -- Corn and soybean inspections were bullish again this week, while wheat inspections were neutral to bullish in this week's export inspections report, according to DTN Analyst Todd Hultman.

Corn weekly export inspections were 43.1 mb (1,093,729 mt) for the week ending Thursday, Apr. 27. This is below 46.1 mb for the same week a year ago. Inspections for 2016-17 totaled 1.513 billion bushels, up 59% from the previous year and still well above USDA's projected 17% demand increase. Monday's report remained bullish for corn, Hultman said.

Soybean weekly export inspections were 19.2 mb (521,218 mt) for the week ending Apr. 27. This is above 7.1 mb for the same week a year ago. Inspections for 2016-17 total 1.817 billion bushels, up 15% from the previous year and above USDA's projected 5% demand increase. Monday's report was bullish for soybeans, Hultman said.

Wheat weekly export inspections were 21.1 mb (574,588 mt) for the week ending Apr. 27. This is above 13.1 mb for the same week a year ago. Marketing year inspections for 2016-17 total 896 mb, up 33% from the previous year and slightly above USDA's projected 32% demand increase. Monday's report was neutral-to-bullish for wheat, Hultman said.

Todd Hultman can be reached at todd.hultman@dtn.com

Follow Todd Hultman on Twitter @ToddHultman1

(BAS/SK)

© Copyright 2017 DTN/The Progressive Farmer. All rights reserved.