As of August 11, the cumulative total of U.S. soybean export inspections decreased by 5.9% year-on-year
Washington, August 15 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 14.6% compared with a week ago, but increased by 167.4% compared with the same period last year.
U.S. soybean export inspections were 744,571 tons for the week ended Aug. 11, 2022, compared with 871,345 tons last week and 278,420 tons a year earlier.
So far, the total amount of U.S. soybean export inspections in 2021/22 (starting on September 1) has reached 55,283,872 tons, a year-on-year decrease of 5.9%, a year-on-year decrease of 6.8% one week ago, and a year-on-year decrease of 8.2% two weeks ago.
In the 52nd week of the 2021/22 season, U.S. soybean export inspections reached 94.0% of the USDA’s revised forecast target, compared with 92.3% last week.
Considering that there are three weeks left in the current year, meeting the USDA export target means exporting at least 1.1 million tons of soybeans per week, which is likely to be achieved based on exports over the past few weeks and the same period in previous years. very low.
USDA’s August 2022 Supply and Demand Report forecast U.S. soybean exports in 2021/22 at 2.160 billion bushels (58.79 million tonnes), down from the July forecast of 2.170 billion bushels and revised from 2020/21 exports 2.266 billion bushels decreased by 4.68%.
Soybean exports for 2022/23 are forecast at 2.155 billion bushels, up from a July forecast of 2.135 billion bushels.