Washington, July 11 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 18.4% compared with a week ago, but increased by 77.4% compared with the same period last year.
U.S. soybean export inspections were 356,716 tons for the week ended July 7, 2022, compared to 437,318 tons last week and 201,129 tons a year earlier.
So far, the total amount of U.S. soybean export inspections in the 2021/22 season (starting on September 1) has reached 52,174,090 tons, a year-on-year decrease of 9.7%, a year-on-year decrease of 10.2% one week ago, and a year-on-year decrease of 10.5% two weeks ago.
In the 47th week of the 2021/22 season, U.S. soybean export inspections reached 88.3 percent of the USDA’s revised forecast target, up from 87.6 percent last week.
USDA forecasts U.S. soybean exports in 2021/22 at 2.170 billion bushels (59.06 million tonnes) in the June 2022 Supply and Demand Report, an increase of 30 million bushels from May, but a revised forecast from 2020/21. 2.261 billion bushels (2.165 billion bushels estimated last month) decreased by 4.02%.