OMAHA (DTN) -- Wheat inspections were bullish while soybean inspections were neutral and corn inspections were neutral to bearish in this week's export inspections report, according to DTN Analyst Todd Hultman.
Corn weekly export inspections were 45.0 million bushels (1,144,317 metric tons) for the week ending Thursday, July 28. This is above 36.2 mb for the same week a year ago. Inspections for 2015-16 total 1.583 billion bushels, down 2% from a year ago and below USDA's projected demand increase of 2%. Monday's report should be viewed as neutral to bearish, Hultman said.
Soybean weekly export inspections were 24.7 mb (671,154 mt) for the week ending July 28. This is above 6.3 mb for the same week a year ago. Inspections for 2015-16 total 1.714 billion bushels, which is down 5% from the previous year and below USDA's projected demand decrease of 3%. Monday's report should be viewed as neutral, Hultman said.
Wheat weekly export inspections were 24.3 mb (662,373 mt) for the week ending July 28. This is above 11.8 mb for the same week a year ago. Marketing-year inspections for 2016-17 total 319.8 mb and are up 38% from the previous year and above USDA's projected demand of a 19% increase. Monday's report should be viewed as bullish, Hultman said.