Corn, Soy Export Inspections Bullish
Wheat Exports Neutral to Bearish; Corn, Bean Exports Bullish
Corn, Soy Export Inspections Bullish
Corn, Soy Inspections Bullish
Corn and soybean inspections were bullish, while wheat inspections were neutral in this week's export inspections report.
OMAHA (DTN) -- Corn and soybean inspections were bullish, while wheat inspections were neutral in this week's export inspections report, according to DTN Analyst Todd Hultman.
Corn weekly export inspections were 46.1 mb (1,170,380 mt) for the week ending Thursday, Apr. 6. This is above 44.2 mb for the same week a year ago. Inspections for 2016-17 totaled 1.359 billion bushels, up 66% from the previous year and well above USDA's projected 17% demand increase. Monday's report remained bullish for corn, Hultman said.
Soybean weekly export inspections were 32.8 mb (832,957 mt) for the week ending Apr. 6. This is above 14.2 mb for the same week a year ago. Inspections for 2016-17 total 1.755 billion bushels, up 13% 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 23.6 mb (641,365 mt) for the week ending Apr. 6. This is above 12.5 mb for the same week a year ago. Marketing year inspections for 2016-17 total 826 mb, up 31% from the previous year, a little below USDA's projected 32% 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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