Washington, May 16 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 decreased by 60.1% from a week earlier.
For the week ending May 12, 2022, the U.S. shipped 84,124 tons of soybeans to China (mainland). 210,649 tonnes of soybeans were shipped the previous week.
That week, the US soybean export inspection volume to China accounted for 10.7% of the total export inspection volume for the week, compared with 41.8% last week and 38.7% two weeks ago.
The USDA’s May 2022 supply and demand report estimated that China’s soybean imports in 2021/22 are expected to be 92 million tons, 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.