The U.S. Department of Agriculture is estimating world soybean production in the 2017/2018 market year will be 344.671 million metric tons. Three countries, Brazil, Argentina and the U.S., are projected to produce about 81% of the world’s total soybeans. The United States estimate is 115.8 million metric tons, or 4,246 million bushels.
World Soybean Production
World soybean meal use is closely related to the country’s livestock and poultry enterprises. China, European Union, U.S. and Brazil account for about 65% of the world’s use of soybean meal; with the remaining 35% spread between numerous countries with commercial livestock and poultry operations. China’s demand for soybean meal is growing since they are the World’s largest producers of pork and aquaculture. The World’s demand for meat, milk and eggs means a growing demand for soybean meal and feed grains.
World Soybean Meal Use 2016-2017