The amount of US soybeans inspected for export in the week ended December 13 was 974,876 mt, up 5.21% from the revised numbers from the previous week and down 45.72% from the year-ago week, the Department of Agriculture showed Monday.
Marketing year-to-date total export inspections volume was up to 15.159 million mt, which is 41.46% lower year on year. Exports were up to 29.32% of the USDA's total projection of 51.709 million mt for the current marketing year ending August 31, 2019. The volume inspected this week is 0.5% behind the weekly pace needed to meet the USDA's projected total.
Top export destinations for the week's inspection report were the Netherlands with 116,275 mt, China with 95,960 mt and Mexico with 84,116 mt.
US soybeans inspected for export are soybeans that have been sold and are inspected during loading at export locations for shipment overseas. Traders consider the pace needed to meet the USDA projection an indicator of demand.
