As of February 10, the cumulative total of U.S. soybean export inspections decreased by 22.8% year-on-year
WASHINGTON, Feb. 14 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 6.9% from a week earlier, but increased by 25.0% from the same period last year.
U.S. soybean export inspections were 1,154,958 tonnes for the week ended February 10, 2022, compared to 1,240,499 tonnes last week and 923,993 tonnes a year earlier.
So far, in 2021/22 (starting on September 1), the total amount of U.S. soybean export inspections has reached 38,820,354 tons, a year-on-year decrease of 22.8%, a year-on-year decrease of 23.8% one week ago, and a year-on-year decrease of 23.6% two weeks ago.
In the 26th week of the 2021/22 season, U.S. soybean export inspections reached 69.6% of the USDA forecast target, compared with 67.5% last week.
In its February 2022 supply and demand report, the U.S. Department of Agriculture forecast that U.S. soybean exports in 2021/22 are expected to be 2.050 billion bushels (55.79 million tonnes), the same as last month’s forecast and a 9.49% decrease from 2.265 billion bushes in 2020/21.