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US Soybean Exports Continue Multi-Year Surge

25 November 2009

US - Even though fall harvest has been off to a slow start in many parts of the country, the 2008/2009 marketing year for US soy exports showed no signs of slowing down the continuing trend of year-after-year growth, according to a report from the United Soybean Board (USB).

With more than 1.56 billion bushels of US soy exported, soy remains the leading US agriculture export valued at $15 billion. Soybean checkoff-funded international marketing efforts assist US soybean farmers and the US soy industry in reaching these record-breaking exports.

Of the 2008/2009 soybean crop, the US exported 55 per cent, including 1.24 billion bushels of whole soybeans. The US exported nearly 320 million bushels of US soybean meal, and exports of US soybean oil totaled nearly 900,000 metric tons.

"The checkoff funds programmes that help increase the demand and preference for US soybeans around the world," says Jim Call, soybean farmer from Madison, Minnesota, and USB International Marketing chair. "And, despite the worldwide economic situation, US sales of soy internationally have increased."

For the 2008/09 marketing year, China remained the top importer of US soybeans with a total of 686 million bushels or 23 per cent of total US soybeans. Mexico imported the most US soybean meal at 56 million bushels and the second-highest amount of US soybeans with 113 million bushels and US soybean oil with 110,600 metric tons. Total Mexico imports of US soy equaled over $1.6 billion. India imported the most US soybean oil, totaling 172,600 metric tons. US soybean exports to Japan dropped slightly at 88 million bushels. The European Union remained a strong market as the Netherlands imported 32 million bushels and Germany imported 25 million bushels.

TheCattleSite News Desk



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