As of May 19, the cumulative total of U.S. soybean export inspections decreased by 13.1% year-on-year

WASHINGTON, May 23: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 28.3% compared with a week ago, but increased by 159.2% compared with the same period last year.

For the week ending May 19, 2022, U.S. soybean export inspections were 575,781 tonnes, compared to 802,575 tonnes last week and 222,107 tonnes 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 49,092,750 tons, a year-on-year decrease of 13.1%, a year-on-year decrease of 13.8% one week ago, and a year-on-year decrease of 14.7% two weeks ago.

In the 40th week of the 2021/22 season, U.S. soybean export inspections reached 84.3% of the USDA forecast target, compared with 83.3% 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.