Washington, July 25 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) fell sharply last week.
For the week ending July 21, 2022, the U.S. shipped 6,856 tons of soybeans to China (mainland), compared with 136,679 tons the week before.
The U.S. soybean export inspection volume to China accounted for 1.8% of the total export inspection volume for the week, compared with 37.7% last week and 21.0% 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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