Soybeans
In 2020, the value of U.S. soybean exports to the world reached a record $25.7 billion, up nearly 40 percent ($7 billion) by value and up 23 percent (11.9 million tons) by volume from the prior year. Exports to China jumped $6.2 billion (up 77 percent) from last year, significantly contributing to the rise in total exports. The total value of U.S. soybean exports was more than $4 billion (18 percent) above the 5-year average of 2013-2017.
More information from the 2020 U.S. Agricultural Export Yearbook
USDA's latest official data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade in oilseeds, can be found in the Oilseeds: World Markets and Trade report.
Data and Analysis
Oilseed production is met with mixed expectations in 2022. Total soybean production is forecast to increase slightly due to higher planted area in marketing year (MY) 2022/23. However, the cancellation of federal commercialization support programs...
MY2022/23 is characterized by a small decrease in rapeseed production and an increase in imports of soybean meal and oil. Total United Kingdom (UK) rapeseed area in MY2022/23 is forecast to increase by 17 percent with an anticipated yield of 3Mt per hectare, slightly below the Defra five-year average of 3.3Mt per hectare.
For marketing year (MY) 2022/23 Post projects a recovery in Argentine soybean planted acreage to 17 million hectares (HA) resulting in 51 million metric tons (MMT) of soybean production as farmers shift acreage out of cereal crops that require more fertilizer. MY 2022/23 sunflowerseed planted acreage is projected up at 2 million HA, with total production estimated at 4 MMT in response to high prices.
News and Features
May 18, 2022
Export Sales to Unknown Destinations
Private exporters reported sales of 229,200 MT of soybeans received during the reporting period for delivery to unknown destinations - 10,200 MT is for delivery during MY 2021/2022 and 219,000 MT is for delivery during MY 2022/2023.
May 13, 2022
Export Sales to China
Private exporters reported sales of 132,000 MT of soybeans for delivery to China during MY 2021/2022.
April 26, 2022
Export Sales to China and Unknown Destinations
Private exporters reported the following activity: 132,000 metric tons of soybeans for delivery to China during the 2022/2023 marketing year 133,000 metric tons of soybeans for delivery to unknown destinations. Of the total, 78,000 metric tons is for...
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