As of October 6, the cumulative total of U.S. soybean export inspections decreased by 23% year-on-year

Washington, October 11 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections increased by 65.6% from a week earlier, but decreased by 44.4% from the same period last year.

For the week ended October 6, 2022, U.S. soybean export inspections were 969,212 tonnes, compared to 585,271 tonnes last week and 1,744,264 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 2,760,951 tons, a year-on-year decrease of 23.0%. It was down 3.2% year-on-year last week.

U.S. soybean export inspections reached 4.9 percent of the U.S. Department of Agriculture’s forecast target, compared with 3.1 percent the previous week.

USDA’s September 2022 Supply and Demand Report forecasts U.S. soybean exports in 2022/23 at 2.085 billion bushels (56.74 million tonnes), down from 2.155 billion bushels (58.65 million tonnes) forecast in August and higher than 2012/22 Annual revised exports of 2.145 billion bushels (2.160 billion bushels last month) were down 2.80%. For comparison, U.S. soybean exports in 2021/22 fell 5.34% year-on-year.