As of Dec. 8, total U.S. soybean export inspections were down 8.4% year-over-year

WASHINGTON, Dec. 12: According to the weekly export inspection report released by the U.S. Department of Agriculture, the U.S. soybean export inspection volume last week decreased by 11.6% from a week ago, but increased by 5.2% from the same period last year.

As of the week of December 8, 2022, the US soybean export inspection volume was 1,839,761 tons, compared with 2,080,025 tons last week and 1,748,392 tons in the same period last year.

So far, in the 2022/23 season (beginning on September 1), the total amount of US soybean export inspections has reached 23,373,686 tons, a year-on-year decrease of 8.4%. It was down 10.9% year-on-year last week and down 10.1% year-on-year two weeks ago.

U.S. soybean export inspections reached 42.0% of the USDA’s forecast target, compared with 38.1% completed the previous week.

In the December 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 unchanged from the November forecast 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.