Soybean: Weekly Export Inspections

Soybean inspections seasonally slow but at 10.2 mb that’s the largest number since mid-May, about 3 months ago. As U.S. prices have become the cheapest source of soybeans in the world, USDA soybean export inspections should continue to increase now through the new crop harvest. USDA lowered old crop soybean export estimates and that is somewhat of a surprise, given the fact we’re still running 42% ahead of the year ago level.