As of January 20, the cumulative total of U.S. soybean export inspections decreased by 23.7% year-on-year
WASHINGTON, Jan. 24: The U.S. Department of Agriculture’s weekly export inspection report showed that U.S. soybean export inspections fell 24.8% last week from a week earlier and 38.3% less than the same period last year.
U.S. soybean export inspections were 1,297,802 tonnes for the week ended January 20, 2022, compared to 1,726,719 tonnes last week and 2,103,465 tonnes a year earlier.
So far, the total amount of U.S. soybean export inspections in 2021/22 (starting on September 1) has reached 34,752,128 tons, a year-on-year decrease of 23.7%, a year-on-year decrease of 23.0% one week ago, and a 23.1% year-on-year decrease two weeks ago.
In the 23rd week of the 2021/22 season, U.S. soybean export inspections reached 62.3% of the USDA forecast target, compared with 60.0% last week.
In its January 2022 supply and demand report, the U.S. Department of Agriculture forecast U.S. soybean exports in 2021/22 at 2.050 billion bushels (55.79 million tonnes), unchanged from last month’s forecast and down 9.49% from 2.265 billion bushels in 2020/21.