Washington, September 19 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections were 51.8% higher than a week earlier and 85.6% higher than the same period last year.
For the week ended September 15, 2022, U.S. soybean export inspections were 518,743 tons, compared to 341,713 tons last week and 279,572 tons a year earlier.
So far, in 2022/23 (starting on September 1), the total amount of U.S. soybean export inspections has reached 912,755 tons, an increase of 81.2% year-on-year. Last week, it was up 70.1% year-on-year.
U.S. soybean export inspections reached 1.61 percent of the USDA’s forecast target. Completed 0.67% last 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.