Washington, July 25 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections fell 11.13% from a week earlier, but increased 60.26% from the same period last year.
U.S. soybean export inspections were 388,212 tons for the week ended July 21, 2022, compared to 436,829 tons last week and 242,239 tons a year earlier.
So far, the 2021/22 (starting on September 1) total U.S. soybean export inspection total has reached 53,000,942 tons, a year-on-year decrease of 8.9%, a year-on-year decrease of 9.3% a week ago, and a decrease of 9.7% year-on-year two weeks ago.
In the 49th week of the 2021/22 season, U.S. soybean export inspections reached 89.7% of the USDA’s revised forecast target, compared with 89.0% last week.
USDA’s July 2022 Supply and Demand Report forecasts U.S. soybean exports in 2021/22 at 2.170 billion bushels (59.06 million tonnes), unchanged from June and 4.02% lower than the revised 2020/21 export volume of 2.261 billion bushels %. Soybean exports for 2022/23 are forecast at 2.135 billion bushels, down from a June forecast of 2.200 billion bushels.