Grain Inspections Mixed

OMAHA (DTN) -- Corn and soybean inspections were neutral to bearish while wheat inspections were neutral in the latest USDA export inspections report, according to DTN Lead Analyst Todd Hultman.

Corn inspections totaled 25.7 million bushels for the week ended Thursday, June 13, below the 40.7 mb needed each week to reach USDA's export estimate of 2.200 bb. Inspections for 2018-19 now total 1.608 billion bushels, down 4% from the previous year. The overall pace of corn inspections is neutral to bearish in 2018-19, Hultman said.

Soybean inspections totaled 24.8 mb for the week ended Thursday, June 13, below the 30.5 mb needed weekly to reach USDA's export estimate of 1.700 bb. Inspections for 2018-19 now total 1.31 bb, down 26% from the previous year. The overall pace of soybean inspections is neutral to bearish in 2018-19, Hultman said.

Wheat inspections totaled 13.8 mb for the week ended Thursday, June 13, below the 17.4 mb needed weekly to reach USDA's export estimate of 900 mb. Inspections for 2019-20 now total 29.3 mb, up slightly from the previous year. The overall pace of wheat inspections is neutral early in 2019-20, Hultman said.

(AG)

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