As of March 31, the cumulative total of U.S. soybean export inspections decreased by 19.2% year-on-year
WASHINGTON, April 4: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections increased by 16.8% from a week ago and 91.7% from the same period last year.
U.S. soybean export inspections were 737,372 tons for the week ended March 31, 2022, compared to 631,604 tons last week and 384,662 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 44,168,976 tons, a year-on-year decrease of 19.2%, a year-on-year decrease of 20.0% one week ago, and a year-on-year decrease of 20.6% two weeks ago.
In the 33rd week of the 2021/22 season, U.S. soybean export inspections reached 77.7% of the USDA forecast target, compared with 76.4% last week.
In the March 2022 Supply and Demand Report, the USDA forecasts U.S. soybean exports in 2021/22 at 2.090 billion bushels (56.88 million tonnes), an increase of 40 million bushes from February and a decrease of 7.73 from 2020/21’s 2.265 billion bushes %.