Washington, June 27 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 11.2% from a week earlier, and was also much higher than the same period last year.
In the week ended June 23, 2022, the United States shipped 80,556 tons of soybeans to China (mainland), compared with 72,432 tons in the previous week and 1,000 tons in the same period last year.
That week, the U.S. soybean export inspection volume to China accounted for 17.2% of the total export inspection volume for the week, compared with 16.9% last week and 11.6% 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 for 2022/23 are forecast at 99 million tonnes, also unchanged from the May forecast.