As of March 3, the cumulative total of U.S. soybean export inspections decreased by 21.6% year-on-year
WASHINGTON, March 7: The U.S. Department of Agriculture’s weekly export inspection report showed that U.S. soybean export inspections rose 3.8% last week from a week earlier and 15.1% higher than the same period last year.
U.S. soybean export inspections were 766,250 tons for the week ended March 3, 2022, compared to 738,266 tons last week and 665,547 tons a year earlier.
So far, the total amount of U.S. soybean export inspections in 2021/22 (starting on September 1) has reached 41,375,206 tons, a year-on-year decrease of 21.6%, a year-on-year decrease of 22.1% one week ago, and a year-on-year decrease of 22.1% two weeks ago.
In the 29th week of the 2021/22 season, U.S. soybean export inspections reached 74.2% of the USDA forecast target, compared with 72.8% last week.
In its February 2022 supply and demand report, the U.S. Department of Agriculture forecast that U.S. soybean exports in 2021/22 are expected to be 2.050 billion bushels (55.79 million tonnes), the same as last month’s forecast and a 9.49% decrease from 2.265 billion bushes in 2020/21.