As of September 22, the cumulative total of U.S. soybean export inspections increased by 18% year-on-year
Washington, September 26 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 50.4% from a week ago and 47.0% from the same period last year.
For the week ended September 22, 2022, U.S. soybean export inspections were 257,547 tons, compared to 519,698 tons last week and 486,179 tons 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 1,171,257 tons, an increase of 18.3% year-on-year. Last week, it increased by 81.2% year-on-year.
U.S. soybean export inspections reached 2.06 percent of the USDA’s forecast target. 1.61% completed 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.