As of July 28, the cumulative total of U.S. soybean export inspections decreased by 8.2% year-on-year
WASHINGTON, Aug. 1: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections increased by 41.43% from a week earlier and 198.88% higher than the same period last year.
U.S. soybean export inspections were 555,083 tons for the week ended July 28, 2022, compared to 392,480 tons last week and 185,723 tons a year earlier.
So far, the 2021/22 (starting September 1) total U.S. soybean export inspection total has reached 53,561,468 tons, a year-on-year decrease of 8.2%, a year-on-year decrease of 8.9% one week ago, and a 9.3% year-on-year decrease two weeks ago.
In the 50th week of the 2021/22 season, U.S. soybean export inspections reached 90.7 percent of the USDA’s revised forecast target, up from 89.7 percent 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 the June forecast of 2.200 billion bushels.
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