The following table presents the most recent information on soybean statistics published by the U.S. Department of Agriculture. While the current crop year data may be still subject to small changes based on the fall’s weather and harvest, the 6-year data in this table provides an interesting overview of soybean production in the United States and World. In the 2014/2015 crop year, farmers planted more acres to soybean and soybean yields were significantly higher compared to the previous five years. This resulted in about a 20% increase in soybean production and higher values for both the soybean domestic crush and soybean exports. Soybean meal use and exports continue to reflect the importance of soybean meal to the livestock and poultry industries.
Global soybean production had a major jump to 312.06 million metric tons, largely due to significant soybean production increases in the U.S., Argentina and Brazil; these three countries produce over 82% of the World’s supply of soybeans. What is interesting is to review the production values over the past six years; the soybean production trends have been relative constant with no major changes in soybean production. Therefore, the U.S. and a couple of South American countries have an important role in making sure the supply of this important feed protein ingredient is available to support the World’s livestock, poultry and aquaculture industries.
U.S. Soybean Supply and Soybean Meal Use
(*) Estimated; (**) Projected
USDA/WASDE-535, November 10, 2014
The SOYBEAN MEAL INFORMATION CENTER is sponsored by the Soybean Checkoff: Including the checkoff boards from, Iowa, Illinois, Indiana, Kansas, Kentucky, Michigan, Minnesota, Ohio, and South Dakota.