Weekly US soybean export inspections show 69% to China: USDA

Chicago — US soybeans inspected for export in the week ended Nov. 19 were 2.010 million mt, with 69% of the volume destined for China, US Department of Agriculture data showed on Nov. 23.

The weekly total volume was down 18.5% from the previous report and shown up only 3% from the volume inspected during the same week in 2019.

Total export inspections for the 2020-21 marketing year which began Sept. 1 have now reached 24.418 million mt, which is 70% above the year-ago volume. The total export inspections have reached 41% of the USDA's estimate for exports during the entire marketing year. Weekly export inspections were 131% above the weekly pace required to meet the USDA's total projection.

As the top destination for weekly inspections China was shown with 1.389 million mt. Other notable destinations were Mexico with 136,968 mt, Indonesia with 101,282 mt and Egypt with 95,997 mt.

US soybeans inspected for export (mt)

Source: USDA