Corn, soybean and wheat inspections were bullish again this week in this week’s export inspections report, according to DTN Analyst Todd Hultman.
Corn weekly export inspections were 41.0 mb (1,041,534 mt) for the week ending Thursday, June 8. This is below 67.2 mb for the same week a year ago. Inspections for 2016-17 totaled 1.787 billion bushels, up 46% 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 18.7 mb (508,220 mt) for the week ending June 8. This is above 5.5 mb for the same week a year ago. Inspections for 2016-17 total 1.896 billion bushels, up 18% 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 28.4 mb (773,992 mt) for the week ending June 8. This is above 15.0 mb for the same week a year ago. Marketing year inspections for 2017-18 total 31.6 mb, up 39% from a year ago and well above USDA’s projected 3% decline. Understanding it is still very early in the new 2017-18 season, Monday’s report was bullish for wheat, Hultman said.
Todd Hultman can be reached at todd.hultman@dtn.com
Follow Todd Hultman on Twitter @ToddHultman1
