(DTN) -- Wheat inspections were bullish while corn and soybean inspections were neutral in this week's export inspections report, according to DTN Analyst Todd Hultman.
Corn weekly export inspections were 53.5 million bushels (1,357,903 metric tons) for the week ending Thursday, July 7. This is above 41.6 mb for the same week a year ago. Inspections for 2015-16 total 1.434 billion bushels, down 4% 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 13.7 mb (374,016 mt) for the week ending July 7. This is above 5.4 mb for the same week a year ago. Inspections for 2015-16 total 1.647 billion bushels, which is down 7% from the previous year and below USDA's projected demand decrease of 5%. Monday's report should be viewed as neutral, Hultman said.
Wheat weekly export inspections were 13.8 mb (511,701 mt) for the week ending July 7. This is above 10.0 mb for the same week a year ago. Marketing-year inspections for 2016-17 total 97.5 mb and are up 41% from the previous year and above USDA's projected demand of a 16% increase. Monday's report should be viewed as bullish, Hultman said.