USDA: U.S. shipped 70,000 tons of soybeans to China last week

Washington, August 29 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 ended Aug. 25, 2022, the U.S. shipped 71,592 tons of soybeans to China (mainland), up from 359,000 tons the week before.

The US soybean export inspection volume to China accounted for 16.4% of the total export inspection volume for the week, compared with 52.3% last week and 37.7% two weeks ago.

In its August 2022 supply and demand report, the U.S. Department of Agriculture estimated that China’s soybean imports in 2021/22 are expected to be 90 million tons, which is the same as the July forecast and 9.8% lower than the 99.76 million tons in 2021/22. Soybean imports in 2022/23 are at 98 million tonnes, unchanged from the July forecast.