Corn, Wheat Inspections Bullish

By Todd Hultman

DTN Analyst

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

Corn weekly export inspections were 52.6 million bushels (1,335,643 metric tons) for the week ending Thursday, Sept. 22. This is above 31.9 mb for the same week a year ago. Inspections for 2016-17 totaled 168.0 million bushels, up 55% from the previous year and above USDA’s projected 14% demand increase. Monday’s report was bullish for corn, Hultman said.

Soybean weekly export inspections were 14.1 mb (383,953 mt) for the week ending Sept. 22. This is below 19.9 mb for the same week a year ago. Inspections for 2016-17 total 84.2 million bushels, up 59% from the previous year and above USDA’s projected 2% demand increase. Monday’s report should be viewed as neutral for soybeans, Hultman said.

Wheat weekly export inspections were 32.2 mb (875,049 mt) for the week ending Sept. 22. This is above 23.4 mb for the same week a year ago. Marketing-year inspections for 2016-17 total 347.3 mb, up 27% from the previous year and above USDA’s projected 23% demand increase. Monday’s report should be viewed as bullish for wheat, Hultman said.

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

Follow Todd Hultman on Twitter @ToddHultman1

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