WASHINGTON, Aug. 1: The U.S. Department of Agriculture’s weekly export inspection report showed that U.S. soybean shipments to China (mainland) increased sharply last week.
For the week ending July 28, 2022, the U.S. shipped 130,733 tons of soybeans to China (mainland), compared with 6,856 tons the week before.
The U.S. soybean export inspection volume to China accounted for 23.6% of the total export inspection volume for the week, compared with 1.8% last week and 37.7% two weeks ago.
In the July 2022 supply and demand report, the USDA estimated that China’s soybean imports in 2021/22 are expected to be 90 million tons, which is 2 million tons lower than the June forecast and 9.8% lower than the 99.76 million tons in 2021/22. Soybean imports in 2022/23 are at 98 million tonnes, down from the June forecast of 99 million tonnes.
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