Grain Inspections Bullish

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

Corn weekly export inspections were 43.7 million bushels (1,109,638 metric tons) for the week ending Thursday, July 13. This is below 52.3 mb for the same week a year ago. Inspections for 2016-17 totaled 2.002 billion bushels, up 35% from the previous year and still well above USDA's projected 17% demand increase. Monday's report continues to show a bullish pace of inspections for corn, Hultman said.

Soybean weekly export inspections were 10.5 mb (285,972 mt) for the week ending July 13. This is below 14.7 mb for the same week a year ago. Inspections for 2016-17 total 1.958 billion bushels, up 17% from the previous year and well above USDA's projected 8% demand increase. Monday's inspections maintained a bullish pace for soybeans, Hultman said.

Wheat weekly export inspections were 21.3 mb (578,627 mt) for the week ending July 13. This is above 16.4 mb for the same week a year ago. Marketing-year inspections for 2017-18 total 144.1 mb, up 26% from a year ago and well above USDA's projected 8% decline. Monday's report continued to show a bullish inspection pace for wheat, Hultman said.

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

Follow Todd Hultman on Twitter @ToddHultman1

(AG)

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