The United States exported over 2 billion bushels of U.S. soy, valued at more than $30 billion in the 2013-14 marketing year. The year got off to a fast start, exceeding the predicted export numbers in early 2014 and finishing strong with record-size crops starting to come out of the fields.
The 2013-14 export total includes 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, according to USDA. This total represents 62 percent of U.S. soybean production from last year.
“U.S. soybean farmers are committed to meeting global demand with a quality product,” says Dwain Ford, United Soybean Board International Opportunities Target Area Coordinator and soybean farmer from Kinmundy, Ill. “These export numbers prove that U.S. soy is a highly valued product in the global marketplace and that U.S. soybean farmers are doing our job.”
Top buyers of whole U.S. soybeans in 2013-14 include: China, 1.013 billion bushels; Mexico, 124 million bushels; and 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; and 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; and Dominican Republic, oil from 22 million bushels.