As of Nov. 10, total U.S. soybean export inspections fell 11.6% year-on-year

WASHINGTON, Nov. 14 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 28.7% from a week ago and 23.7% from the same period last year.

U.S. soybean export inspections were 1,857,872 tonnes for the week ended November 10, 2022, compared to 2,606,157 tonnes last week and 2,434,312 tonnes a year earlier.

So far, the total amount of U.S. soybean export inspections in the 2022/23 season (starting on September 1) has reached 14,691,125 tons, a year-on-year decrease of 11.6%. It was down 9.7% year-on-year last week and 9.5% year-on-year two weeks ago.

U.S. soybean export inspections reached 26.4% of the USDA’s forecast target, compared with 23.0% the previous week.

USDA’s November 2022 Supply and Demand Report forecasts U.S. soybean exports in 2022/23 at 2.045 billion bushels (55.66 million tonnes), unchanged from the October forecast and 5.23% lower than the 2.158 billion bushels in 2012/22. %. For comparison, U.S. soybean exports in 2021/22 fell 4.77% year-on-year.