As of December 15, total U.S. soybean export inspections were down 8.7% year-over-year

WASHINGTON, Dec. 19: According to the weekly export inspection report released by the U.S. Department of Agriculture, the export inspection volume of U.S. soybeans last week decreased by 13.8% compared with a week ago, and decreased by 15.2% compared with the same period last year.

For the week ending December 15, 2022, US soybean export inspections were 1,619,850 tons, compared with 1,878,278 tons last week and 1,909,031 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 25,036,140 tons, a year-on-year decrease of 8.7%. It was down 8.4% year-on-year last week and down 10.9% year-on-year two weeks ago.

U.S. soybean export inspections reached 45.0% of the USDA’s forecast target, compared with 42.0% 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.