As of May 26, the cumulative total of U.S. soybean export inspections decreased by 12.7% year-on-year
Washington, May 31 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 34.9% from a week earlier, but increased by 84.4% from the same period last year.
For the week ended May 26, 2022, U.S. soybean export inspections were 378,262 tonnes, compared to 581,067 tonnes last week and 205,108 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 49,477,106 tons, a year-on-year decrease of 12.7%, a year-on-year decrease of 13.1% one week ago, and a year-on-year decrease of 13.8% two weeks ago.
In the 41st week of the 2021/22 season, U.S. soybean export inspections reached 85.0% of the USDA forecast target, compared with 84.3% 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 2020/21’s 2.265 billion bushes %.