USDA: U.S. shipped 64,000 tons of soybeans to China last week

Washington, May 31 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 was 60.8% lower than a week ago.

For the week ending May 26, 2022, the U.S. shipped 63,585 tons of soybeans to China (mainland). 162,145 tons of soybeans were shipped the previous week.

That week, the U.S. soybean export inspection volume to China accounted for 16.8% of the total export inspection volume for the week, compared with 28.2% last week and 10.7% two weeks ago.

In the May 2022 supply and demand report, the USDA estimated that China’s soybean imports in 2021/22 are expected to be 92 million tons, which is 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.