Washington, June 6 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 13.2% from a week ago, but increased by 46.4% from the same period last year.
U.S. soybean export inspections were 350,416 tons for the week ended June 2, 2022, compared to 403,617 tons last week and 239,384 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 49,852,901 tons, a year-on-year decrease of 12.4%, a year-on-year decrease of 12.7% one week ago, and a year-on-year decrease of 13.1% two weeks ago.
In the 42nd week of the 2021/22 season, U.S. soybean export inspections reached 85.6% of the USDA forecast target, compared with 85.0% last week.
In its May 2022 Supply and Demand Report, the USDA forecasts U.S. soybean exports in 2021/22 at 2.140 billion bushels (58.24 million tons), an increase of 25 million bushes from April and a decrease of 5.33% percent from 2.265 billion in 2020/21.