News from Washington, November 28: The weekly export inspection report released by the U.S. Department of Agriculture showed that the U.S. soybean export inspection volume last week decreased by 16.6% compared with a week ago, and decreased by 10.5% compared with the same period last year.
As of the week of November 24, 2022, the US soybean export inspection volume was 2,022,443 tons, compared with 2,425,237 tons last week and 2,259,136 tons in the same period last year.
So far, in the 2022/23 season (beginning on September 1), the total amount of US soybean export inspections has reached 19,248,392 tons, a year-on-year decrease of 10.1%. It was down 10.5% year-on-year last week and down 11.6% year-on-year two weeks ago.
U.S. soybean export inspections reached 34.6% of the USDA’s forecast target, up from 30.8% the previous week.
In the November 2022 supply and demand report, the U.S. Department of Agriculture predicted that U.S. soybean exports in 2022/23 are expected to be 2.045 billion bushels (55.66 million tons), which is the same as the forecast in October and 523 million bushels lower than the 2.158 billion bushels in 2012/22. %. In contrast, U.S. soybean exports in the 2021/22 season will decrease by 4.77% year-on-year.