Washington, June 27 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections increased by 9.3% from a week ago and 321.0% higher than the same period last year.
U.S. soybean export inspections were 468,309 tons for the week ended June 23, 2022, compared to 428,322 tons last week and 111,250 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 51,372,809 tons, a year-on-year decrease of 10.5%, a year-on-year decrease of 11.0% one week ago, and a year-on-year decrease of 11.5% two weeks ago.
In the 45th week of the 2021/22 season, U.S. soybean export inspections reached 87.0% of the USDA’s revised forecast target, up from 86.2% 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%.