OMAHA (DTN) -- Soybean inspections were bearish while corn and wheat inspections were neutral in the latest USDA export inspections report, according to DTN Senior Analyst Dana Mantini.
Corn inspections totaled 29.3 million bushels (mb) for the week ended Thursday, May 30, 2019, below the 45.2 mb needed each week to reach USDA's export estimate of 2.300 billion bushels (bb). Inspections for 2018-19 now total 1.548 bb, down 1% from the previous year. The overall pace of corn inspections is neutral in 2018-19, Mantini said.
Soybean inspections totaled 18.3 mb for the week ended Thursday, May 30, 2019, below the 33.6 mb needed weekly to reach USDA's export estimate of 1.775 bb. Inspections for 2018-19 now total 1.257 bb, down 27% from the previous year. The overall pace of soybeans inspections is bearish in 2018-19, Mantini said.
Wheat inspections totaled 21.8 mb for the week ended Thursday, May 30, 2019, above the 19.7 mb needed weekly to reach USDA's export estimate of 925.0 mb. Inspections for 2018-19 now total 911.0 mb, up 4% from the previous year. The overall pace of wheat inspections is neutral in 2018-19, Mantini said.
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