As of June 30, the cumulative total of U.S. soybean export inspections decreased by 10.2% year-on-year
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WASHINGTON, July 5 News: The U.S. Department of Agriculture’s weekly export inspection report showed that U.S. soybean export inspections last week decreased by 25.4% from a week earlier, but increased by 61.9% from the same period last year.
U.S. soybean export inspections were 354,987 tons for the week ended June 30, 2022, compared to 475,556 tons last week and 219,235 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 51,735,043 tons, a year-on-year decrease of 10.2%, a year-on-year decrease of 10.5% one week ago, and a year-on-year decrease of 11.0% two weeks ago.
In the 46th week of the 2021/22 season, U.S. soybean export inspections reached 87.6% of the USDA’s revised forecast target, up from 87.0% 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%.