OMAHA (DTN) -- Wheat inspections were bullish while corn and soybean inspections were bearish in the latest USDA export inspections report, according to DTN Senior Analyst Dana Mantini.
Corn inspections totaled 25.4 million bushels (mb) for the week ended Thursday, July 25, below the 42.9 mb needed each week to reach USDA's export estimate of 2.100 billion bushels (bb). Inspections for 2018-19 now total 1.742 bb, down 14% from the previous year. The overall pace of corn inspections is bearish in 2018-19, Mantini said.
Soybean inspections totaled 37.9 mb for the week ended July 25, above the 37.6 mb needed weekly to reach USDA's export estimate of 1.700 bb. Inspections for 2018-19 now total 1.481 bb, down 23% from the previous year. The overall pace of soybean inspections is bearish in 2018-19, Mantini said.
Wheat inspections totaled 14.4 mb for the week ended July 25, below the 18.3 mb needed weekly to reach USDA's export estimate of 950 mb. Inspections for 2019-20 now total 139.6 mb, up 24% from the previous year. The overall pace of wheat inspections is bullish in 2019-20, Mantini said.
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