In the September, U.S.D.A. Soybean and Soybean Meal Production report, the U.S. soybean production estimate was increased slightly due to the prospects for improved soybean yields, however, we are still a few weeks from having the crop harvested. Adverse weather this fall could have a limiting effect on the yield prospects. In a future issue of Soybean Meal INFOsource we will provide better estimates of the size and use of the 2015 soybean crop.
USDA economists increased their estimate for domestic disappearance of soybean meal by a million short tons due to an increased demand for meal by the feed industry. Soybean meal prices are estimated to remain in the $310-350 per ton range. Livestock, poultry and aquaculture producers should benefit from these anticipated soybean meal prices.
U.S. Soybean and Soybean Meal Production, Use and Exports
Soybean Crush and Exports
Soybean Meal Domestic Use and Exports