Corn, Soybean And Wheat Inspections Bullish

OMAHA (DTN) -- Corn, soybean and wheat inspections were all bullish in this week's export inspections report, according to DTN Analyst Todd Hultman.Corn weekly export inspections were 31.2 million bushels (791,896 metric tons) for the week ending Thursday, Oct. 27. This is above 19.1 mb for the same week a year ago. Inspections for 2016-17 totaled 360 million bushels, up 74% from the previous year and well above USDA's projected 17% demand increase. Monday's report was bullish for corn, Hultman said.Soybean weekly export inspections were 105.4 mb (2,867,212 mt) for the week ending Oct. 27. This is above 94.1 mb for the same week a year ago. Inspections for 2016-17 total 490 million bushels, up 11% from the previous year and above USDA's projected 5% demand increase. Monday's report was bullish for soybeans, Hultman said.Wheat weekly export inspections were 12.0 mb (325,496 mt) for the week ending Oct. 27. This is above 6.3 mb for the same week a year ago. Marketing-year inspections for 2016-17 total 427 mb, up 29% from the previous year and slightly above USDA's projected 26% demand increase. Monday's report should be viewed as bullish for wheat, Hultman said.