As of June 16, the cumulative total of U.S. soybean export inspections decreased by 11.1% year-on-year
Washington, June 21 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 29.7% from a week earlier, but increased by 107.8% from the same period last year.
For the week ended June 16, 2022, U.S. soybean export inspections were 427,344 tons, compared to 608,116 tons last week and 205,645 tons a year earlier.
So far, the total amount of U.S. soybean export inspections in 2021/22 (starting on September 1) has reached 50,903,522 tons, a year-on-year decrease of 11.0%, a year-on-year decrease of 11.5% one week ago, and a year-on-year decrease of 12.4% two weeks ago.
In the 44th week of the 2021/22 season, U.S. soybean export inspections reached 86.2 percent of the USDA’s revised forecast target, up from 85.5 percent last week.
USDA forecasts 2.170 billion bushels (59.06 million tonnes) of U.S. soybean exports in 2021/22 in its 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%.