Weekly wheat and soybean inspections during the week ended March 14 fell 164,665 MT and 98,672 MT, respectively, from the previous week. Meanwhile, corn inspections rose nearly 73,000 MT.
Weekly corn sales during the week ended March 7 totaled 1.28 MMT, up 16% from the previous week, while soybean and wheat sales each faded, down 39% and 69%, respectively. Wheat sales were at a marketing-year low.
Soybeans extended their recent corrective gains during the overnight session, while wheat traded lower and corn favored the downside in two-sided trade.
Soybean futures retreated from Tuesday’s gains during overnight trade, while the corn and wheat markets have weakened after two-sided price action earlier in the session.
Weekly corn inspections totaled 1.122 MMT during the week ended March 7, down slightly from the previous week, but near the top end of the pre-report range. Soybean inspections fell notably on the week.
Corn and soybean ending stocks were unchanged from February, while wheat ending stocks rose 15 million bu. However, global corn and wheat ending stocks were lower than pre-report estimates; soybeans were as expected.
Soyoil sales for the week ended Feb. 29 reached a marketing-year high of 29,200 MT, while soybean sales landed above pre-report estimates. Meanwhile, corn and wheat sales were within their respective pre-report ranges.
Corn, soybean and wheat weekly export inspections during the week ended Feb. 29 each fell from the previous week, though all were within pre-report expectations.
Weekly cotton sales during the week ended Feb. 22 were down 69% from the previous week and 83% from the four-week average. Meanwhile, corn, soybean and wheat sales each rose week-over-week.
Weekly corn inspections during the week ended Feb. 22 totaled 1.242 MMT, exceeding the pre-report range by over 91,000 MT and rose nearly 190,000 MT from the previous week.
Net soybean sales during the week ended Feb. 15 were down 84% from the previous week, while weekly corn and wheat sales were down 37% and 33%, respectively.