International customers want high-quality, reliable products, and that’s what U.S. soybean farmers keep delivering – literally. In the most recent marketing year, the United States exported more than 2.3 billion bushels of U.S. soy, valued at more than $27 billion.
According to the U.S. Department of Agriculture, the final export total for the 2014/2015 marketing year, which ended September 30, includes more than 1.8 billion bushels of whole U.S. soybeans, meal from 552 million bushels of U.S. soybeans and oil from 172 million bushels. Exports accounted for 59 percent of U.S. soy demand this past marketing year.
“As a U.S. soybean farmer, I take pride in growing a high-quality product for my customers, whether they’re five miles away or 5,000,” says Bob Metz, United Soybean Board international opportunities target area coordinator, member of the U.S. Soybean Export Council board of directors and soybean farmer from Peever, South Dakota. “These numbers show not only how much our international customers rely on our soybeans, but also how much we rely on our customers.”
Top buyers of whole U.S. soybeans in 2014/2015 include:
• China: 1.084 billion bushels
• Mexico: 130 million bushels
• Japan: 78 million bushels
Top buyers of U.S. soybean meal include:
• Mexico: meal from 85 million bushels of U.S. soybeans
• Philippines: meal from 66 million bushels
• Canada: meal from 39 million bushels
Top buyers of U.S. soybean oil include:
• Mexico: oil from 46 million bushels of U.S. soybeans
• Dominican Republic: oil from 22 million bushels
• Peru: oil from 19 million bushels
The 70 farmer-directors of USB oversee the investments of the soy checkoff to maximize profit opportunities for all U.S. soybean farmers. These volunteers invest and leverage checkoff funds to increase the value of U.S. soy meal and oil, to ensure U.S. soybean farmers and their customers have the freedom and infrastructure to operate, and to meet the needs of U.S. soy’s customers. As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.