Grain Export Inspections Mixed
19 Sep 2017
By Darin Newsom
DTN Senior Analyst
OMAHA (DTN) -- Corn export inspections were neutral to bearish, soybean export inspections were neutral to bullish, and wheat inspection numbers were bullish.
Corn weekly export inspections were 26.6 mb (week ending Thursday, September 14) putting the marketing year total at 53.3 mb. The weekly number was below last year's (for the same week) 51.0 mb. The marketing year total is running 54% behind last year's total of 115.4 mb. Both the weekly number and overall pace could be considered neutral to bearish given how early it is in the 2017-2018 marketing year, Newsom said.
Soybean weekly export inspections were 34.1 mb (week ending Thursday, September 14) putting the marketing year total at 74.8 mb. The weekly number was above last year's (for the same week) 28 mb. The marketing year total is running 6% ahead of last year's 70.3 mb. Both the weekly number and overall pace could be considered neutral to bullish given how early it is in the 2017-2018 marketing year, Newsom said.
Wheat weekly export inspections were 17.1 mb (week ending Thursday, September 14) putting the marketing year total at 320.5 mb. The weekly number was below last year's (for the same week) 21.1 mb. The marketing year total is running 2% ahead of last year's 315.2 mb. The weekly number could be considered bearish and the total inspection number bullish, Newsom said.
Darin Newsom can be reached at darin.newsom@dtn.com
Follow Darin Newsom on Twitter @DarinNewsom
(BAS)
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