Washington, August 29 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 36.4% compared with a week ago, but increased by 12.8% compared with the same period last year.
For the week ended Aug. 25, 2022, U.S. soybean export inspections were 436,851 tons, compared to 686,827 tons last week and 387,206 tons a year earlier.
So far, the 2021/22 (starting September 1) total U.S. soybean export inspection total has reached 56,444,476 tons, a year-on-year decrease of 5.0%, a year-on-year decrease of 5.1% one week ago, and a year-on-year decrease of 5.9% two weeks ago.
U.S. soybean export inspections reached 96.0 percent of the USDA’s forecast target, up from 95.2 percent last week.
USDA forecasts 2.160 billion bushels (58.79 million tonnes) of U.S. soybean exports in 2021/22 in the August 2022 Supply and Demand Report, 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.