Washington, March 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) last week increased by 74.5% from a week earlier.
For the week ended March 24, 2022, the U.S. shipped 288,278 tons of soybeans to China (mainland). The U.S. shipped 165,177 tons of soybeans to China (mainland) the previous week.
That week, the US soybean export inspection volume to China accounted for 45.8% of the total export inspection volume for the week, compared with 30.3% last week and 50.2% two weeks ago.
In the March 2022 supply and demand report, the USDA estimated that China’s soybean imports in 2021/22 are expected to be 94 million tons, which is lower than the 97 million tons forecast in February and 5.77% lower than the 99.76 million tons in 2021/22.