Washington, May 23 News: The U.S. Department of Agriculture’s weekly export inspection report showed that the number of soybeans shipped by the United States to China (mainland) last week increased by 92.7% from a week ago.
For the week ending May 19, 2022, the U.S. shipped 162,145 tons of soybeans to China (mainland). 84,124 tons of soybeans were shipped the previous week.
That week, the US soybean export inspection volume to China accounted for 28.2% of the total export inspection volume for the week, compared with 10.7% last week and 41.8% two weeks ago.
The USDA’s May 2022 supply and demand report estimated that China’s soybean imports in 2021/22 are expected to be 92 million tons, higher than the 91 million tons forecast in April and 7.78% lower than the 99.76 million tons in 2021/22. Soybean imports in 2022/23 are forecast at 99 million tonnes.