In the week ended June 9, U.S. soybean export inspections increased, and the cumulative total decreased by 11.5% year-on-year

Washington, June 13 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 ago and increased by 328.2% from the same period last year.

For the week ended June 9, 2022, U.S. soybean export inspections were 605,129 tons, compared to 365,455 tons last week and 141,320 tons a year earlier.

So far, the total amount of U.S. soybean export inspections in the 2021/22 season (starting on September 1) has reached 50,473,191 tons, a year-on-year decrease of 11.5%, a year-on-year decrease of 12.4% one week ago, and a year-on-year decrease of 12.7% two weeks ago.

In the 43rd week of the 2021/22 season, U.S. soybean export inspections reached 85.5% of the USDA’s revised forecast target, up from 85.6% last week.

USDA forecasts U.S. soybean exports in 2021/22 at 2.170 billion bushels (59.06 million tonnes) in the June 2022 Supply and Demand Report, an increase of 30 million bushels from May, but a revised forecast from 2020/21. 2.261 billion bushels (2.165 billion bushels estimated last month) decreased by 4.02%.