OMAHA (DTN) -- Corn and soybean inspections were bearish while wheat inspections were neutral in the latest USDA export inspections report, according to DTN Senior Analyst Dana Mantini.
Corn inspections totaled 24.3 million bushels (mb) for the week ended on Thursday, June 20, 2019, which is below the 42.1 mb needed each week to reach USDA's export estimate of 2.200 billion bushels (bb). Inspections for 2018-19 now total 1.633 bb, down 6% from the previous year. The overall pace of corn inspections is bearish in 2018-19, Mantini said.
Soybean inspections totaled 25.1 mb for the week ended on Thursday, June 20, 2019, below the 31.0 mb needed weekly to reach USDA's export estimate of 1.700 bb. Inspections for 2018-19 now total 1.335 bb, down 26% from the previous year. The overall pace of soybeans inspections is bearish in 2018-19, Mantini said.
Wheat inspections totaled 14.9 mb for the week ended on Thursday, June 20, 2019, below the 17.4 mb needed weekly to reach USDA's export estimate of 900.0 mb. Inspections for 2018-19 now total 45.0 mb, up 6% from the previous year. The overall pace of wheat inspections is neutral in 2018-19, Mantini said.
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