(DTN) -- Corn inspections were neutral, soybean inspections were neutral to bearish and wheat inspections were bullish in this week's export inspections report, according to DTN Analyst Todd Hultman.
Corn weekly export inspections were 57.1 million bushels (1,451,227 metric tons) for the week ending Thursday, June 23. This is above 41.0 mb for the same week a year ago. Inspections for 2015-16 total 1.334 billion bushels, down 6% from a year ago and below USDA's projected demand decrease of 2%. Monday's report should be viewed as neutral, Hultman said.
Soybean weekly export inspections were 10.0 mb (272,066 mt) for the week ending June 23. This is below 10.9 mb for the same week a year ago. Inspections for 2015-16 total 1.626 billion bushels, which is down 8% from the previous year and below USDA's projected demand decrease of 5%. Monday's report should be viewed as neutral to bearish, Hultman said.
Wheat weekly export inspections were 18.8 mb (511,701 mt) for the week ending June 23. This is above 13.2 mb for the same week a year ago. Marketing-year inspections for 2016-17 total 62.6 mb and are up 38% from the previous year and above USDA's projected demand of a 16% increase. Monday's report should be viewed as bullish, Hultman said.
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