The April USDA World Agricultural Supply and Demand Estimates provide an early look at the coming season’s soybean/soybean meal supply and demand estimates. While these values will probably change during the growing season due to weather and market conditions, it would appear that 2017 production of soybeans will be slightly higher this year compared to last year based on the number of acres to be planted and the anticipated soybean yields. USDA economists are also predicting domestic use of soybean meal will also be increased and meal prices will be lower. These estimates indicate that the livestock and poultry producer will have access to an ample supply of soybean meal at a lower price compared to recent years.
U.S. Soybean Supply and Soybean Meal Use