U.S. Soybean Supply and Soybean Meal Use
The March 10th USDA’s World Agricultural Supply and Demand Estimates provide an early look at the coming season’s soybean/soybean meal supply and demand. While values can change due to weather and market conditions, it would appear that U.S. production of soybeans will be larger than previous years based on the number of acres to be planted to soybean and the anticipated soybean yields. USDA economists are also predicting a larger soybean crush and soybean export volume. Domestic use of soybean meal is anticipated to increase and meal prices are predicted lower. World production of soybean meal is predicted to increase due to greater soybean production in the U.S., Brazil and Argentina.