News

Record soybean exports

The 2013-2014 marketing year was a record year for U.S. soybean exports. The United Soybean Board reports over 2 billion bushels of soy valued at over $30 billion was sold.

Those numbers are made up of more than 1.6 billion bushels of whole U.S. soybeans, meal from 484 million bushels of U.S. soybeans and oil from 161 million bushels. The total represents 62 percent of U.S. soybean production from last year.

China was the biggest customer for whole soybeans buying over 1 billion bushels. Mexico was the biggest meal and oil customer purchasing products from 104 million bushels of soybeans.

Top buyers of whole U.S. soybeans in 2013/2014 include:

• China: 1.013 billion bushels
• Mexico: 124 million bushels
• Indonesia: 75 million bushels

Top buyers of U.S. soybean meal in 2014 include:

• Mexico: meal from 68 million bushels of U.S. soybeans
• Philippines: meal from 59 million bushels
• Canada: meal from 45 million bushels

Top buyers of U.S. soybean oil in 2014 include:

• Mexico: oil from 36 million bushels of U.S. soybeans
• China: oil from 35 million bushels
• Dominican Republic: oil from 22 million bushels