PUBLISHED BY SOYBEAN GROWERS FOR THE FEED INDUSTRY
JULY 2015
U.S. soybean production is projected at 3,885 million bushels, based on a harvested area forecast at 84.4 million acres. The soybean yield is projected at 46.0 bushels per acre, which is slightly lower compared to last year, but the weather during the summer and early fall will have a major impact on the final soybean yield. The soybean crush is projected at 1,840 million bushels, about the same as the 2014/15 crop year.

Soybean Meal use continues to increase. This crop year’s estimate for domestic soybean meal use is 32.3 million tons with a price projected at $350-390 per short ton. The domestic meal demand for soybean meal puts continued pressure on soybean meal exports.

All in all, soybean farmers are looking forward to a productive summer, provided, the weather cooperates and late summer rains support the soybean crop’s yield potential.

All in all, soybean farmers are looking forward to a productive summer, provided, the weather cooperates and late summer rains support the soybean crop’s yield potential.

U.S. Soybean Supply and Soybean Meal Use
(*) Estimated; (**) Projected
Reference: USDA/World Agricultural Supply and Demand Estimates. WASDE-543, July10, 2015

The Statistics Division of the United Nation’s Food and Agricultural Organization just released their estimated of world soybean production for the marketing year 2013. Three countries, the United States, Brazil and Argentina dominate the world in soybean production. These three countries account for over 80% of the world’s soybean production.

World Soybean Production - 2013

Reference: Food and Agricultural Organization of the United Nations Statistics Division. http://faostat3.org


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