Washington, September 12 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections decreased by 34.2% from a week ago, but increased by 69.8% from the same period last year.
U.S. soybean export inspections were 329,225 tons for the week ended September 8, 2022, compared to 500,286 tons last week and 193,894 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 381,524 tons, a year-on-year increase of 70.1%. Last week, it was up 63.4% year-on-year.
U.S. soybean export inspections reached 0.67 percent of the USDA’s forecast target. Completed 0.08% 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.