Washington, July 11 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 much higher than a week ago.
For the week ending July 7, 2022, the U.S. shipped 74,818 tons of soybeans to China (mainland), up from 7,566 tons the week before.
That week, the US soybean export inspection volume to China accounted for 21.0% of the total export inspection volume for the week, compared with 2.1% last week and 17.2% two weeks ago.
In the June 2022 supply and demand report, the U.S. Department of Agriculture estimated that China’s soybean imports in 2021/22 are expected to be 92 million tons, which is the same as the forecast in May and 7.78% lower than the 99.76 million tons in 2021/22. Soybean imports in 2022/23 are forecast at 99 million tonnes, also unchanged from the May forecast.