Corn, Soy Export Inspections Bullish

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

Corn weekly export inspections were 55.0 mb (1,395,853 mt) for the week ending Thursday, May 11. This is above 44.6 mb for the same week a year ago. Inspections for 2016-17 totaled 1.603 billion bushels, up 54% 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 10.3 mb (281,465 mt) for the week ending May 11. This is above 7.8 mb for the same week a year ago. Inspections for 2016-17 total 1.841 billion bushels, up 16% from the previous year and well above USDA's projected 6% demand increase. Monday's report was bullish for soybeans, Hultman said.

Wheat weekly export inspections were 25.4 mb (691,226 mt) for the week ending May 11. This is above 13.2 mb for the same week a year ago. Marketing year inspections for 2016-17 total 946 mb, up 34% from the previous year and even with USDA's projected 34% demand increase. Monday's report was neutral for wheat, Hultman said.

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

Follow Todd Hultman on Twitter @ToddHultman1

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