The U.S. Department of Agriculture (USDA) is predicting soybean production for the 2016/2017 marketing year that began September 1, at 4,307 million bushels of which 1,930 million bushels will be crushed and 2,030 million will be exported. These values are significantly higher than previous years.
Domestic production of soybean meal is predicted at 46,311 thousand short tons which is also greater than previous marketing years. Both domestic soybean meal use and exports are estimated higher than previous marketing years. Bottom line, there are adequate supplies of soybean and soybean meal available for both the domestic and foreign user of soybeans and soybean meal. Our farmers are looking forward to the coming spring and planting the new crop. With “normal” weather farmers will continue to produce a raw material important to providing a protein feed ingredient critical to the World’s growing demand for meat, milk and eggs.
U.S. Soybean Production and Use
U.S. Soybean Meal Production and Use