As of Dec. 1, the total number of U.S. soybean export inspections fell 10.9% year-on-year
WASHINGTON, Dec. 5: The weekly export inspection report released by the U.S. Department of Agriculture showed that the U.S. soybean export inspection volume last week decreased by 22.7% compared with a week ago, and decreased by 27.3% compared with the same period last year.
As of the week of December 1, 2022, the US soybean export inspection volume was 1,721,828 tons, compared with 2,226,948 tons last week and 2,369,146 tons in the same period last year.
So far, in the 2022/23 season (starting on September 1), the total amount of US soybean export inspections has reached 21,175,728 tons, a year-on-year decrease of 10.9%. It was down 10.1% year-over-year last week and down 10.5% year-over-year two weeks ago.
U.S. soybean export inspections reached 38.1% of the USDA’s forecast target, up from 34.6% the previous week.
In the November 2022 supply and demand report, the U.S. Department of Agriculture predicted that U.S. soybean exports in 2022/23 are expected to be 2.045 billion bushels (55.66 million tons), which is the same as the forecast in October and 523 million bushels lower than the 2.158 billion bushels in 2012/22. %. In contrast, U.S. soybean exports in the 2021/22 season will decrease by 4.77% year-on-year.