The U.S. Department of Agriculture (USDA) is projecting the 2015/16 soybean production for marketing year, that begin on September 1, at 2,930 million bushels of which 1,890 million bushels will be crushed and 1,680 bushels will be exported. These figures are approximately the same as the 2014/15 marketing year and somewhat higher than the 2013/14 marketing year.
Domestic use of soybean meal is predicted at 33,300 thousand short tons which is greater than the previous two marketing years. Soybean meal exports are estimated to be slightly lower compared to last year and about the same as the 2013/2014 marketing year. Bottom line, adequate supplies of soybean NCHRPeans and soybean meal are available for both the domestic and foreign user of soybean and soybean meal. Our soybean farmers are eagerly looking forward to the spring and planting the new crop. With “normal” weather our farmers will continue to produce a raw material important to providing a protein feed ingredient critical to our World’s growing demand for meat, milk and eggs.
U.S. Soybean Production and Use
U.S. Soybean Meal Production and Use
USDA’s, Foreign Agricultural Service just published World soybean production values for crop year 2015/16. The United States leads in soybean production with 106.85 million metric tons. Brazil was close with 100 mmt, followed by Argentina; these three countries accounted for nearly 85 % of the World’s total production of soybeans. Comparing the soybean production values for the past two growing seasons one can see the production values have not changed.
World Soybean Production-2015/16 (*) (Million metric tons)