Weekly corn and soybean inspections during the week ended Oct. 17 rose solidly from the previous week, each landing near the upper-end of pre-report expectations. Wheat inspections declined over 100,000 MT, missing analysts’ range of expectations.
Corn sales during the week ended Oct 10, rose 82% from the previous week and noticeably from the four-week average. Soybean sales were also notable at 1.70 MMT, rising 35% on the week.
Corn inspections during the week ended Oct. 10 totaled 430,323 MT, down 518,000 MT from the previous week and well below the pre-report range.
On average, analysts expected a modest decline in corn yield from September, though USDA increased the figure 0.2 bu., with production now estimated at 15.203 billion bu. Soybean production was pegged at 4.582 billion bu., using a yield of 53.1 bu. per acre.
Corn and soybean sales during the week ended Oct. 3 totaled 1.222 MMT and 1.264 MMT, respectively.
During the week ended Oct. 3, soybean inspections totaled a notable 1.431 MMT, jumping nearly 750,000 MT from the previous week and exceeding pre-report expectations.
Corn sales during the week ended Sept. 26 exceeded pre-report estimates by nearly 700,000 MT, while wheat sales were also stronger than expected. Soybean sales were also solid at 1.44 MMT.
Sept. 1 corn stocks of 1.760 billion bu. were short of analysts’ average pre-report estimate by 84 million bu., while soybean stocks of 342 million bu. were shy 9 million bu. Wheat stocks and production were each slightly above pre-report estimates.
Weekly soybean inspections during the week ended Sept. 26 totaled 675,749 MT, up 177,000 MT from the previous week, while corn and wheat inspections each declined on the week.
Weekly corn inspections during the week ended Sept. 19 totaled 1.1 MMT, up 534,000 MT from the previous week while wheat inspections of 711,000 MT rose 122,000 MT.

Hillari Mason