USDA: U.S. shipped about 690,000 tons of soybeans to China last week

Washington, October 11 News: The U.S. Department of Agriculture’s weekly export inspection report shows that the number of soybeans shipped by the United States to China (mainland) surged last week, an increase of 11.6 times from the previous week, but only nearly half of the same period last year.

For the week ending October 6, 2022, the U.S. shipped 690,073 tons of soybeans to China (mainland), up from 54,776 tons the week before. For comparison, shipments in the same period in 2021 were 1,116,137 tons and in the same period in 2020 were 1,626,472 tons.

That week, the US soybean export inspection volume to China accounted for 71.2% of the total export inspection volume for the week, compared with 9.5% last week and 28.0% two weeks ago.

In its September 2022 supply and demand report, the U.S. Department of Agriculture estimated that China’s soybean imports in 22022/23 would be 97 million tons, down 1 million tons from August and 7.78% higher than the 90 million tons in 2021/22.