U.S. Soy complex exports (whole soybean, soybean meal and soybean oil) added $39.8 billion[1] to the U.S. economy in marketing year (MY) 22/23 on a volume of 67.6 million metric tons (MMT). The shining star: U.S. soybean meal exports broke records for both volume and value at 13.2 MMT and $6.91 billion, respectively.
“U.S. Soy exports in marketing year 22/23 were nothing short of extraordinary. A standout achievement was the record-breaking performance of soybean meal exports, reaching unprecedented volume and value levels,” said Steve Reinhard, United Soybean Board Chair and Ohio farmer. “As we strive to meet the growing international demand and address global food security challenges, sustainability remains at the forefront of our mission, ensuring that our products nourish and uphold environmental responsibility. With a commitment to innovation and sustainability, U.S. Soy continues to lead as a global force in agriculture, providing quality, reliability, and a vision for a better tomorrow.”
U.S. soybean meal exports
While U.S. processors increased domestic soybean crush capacity, soybean meal has been at the forefront of many conversations. Increased demand in the last five years from both Colombia and Ecuador boosted U.S. soybean meal exports by 15% and 36% respectively above their five-year averages. Meanwhile, increased volume and higher prices saw U.S. soybean meal exports increase in value by 39% over the five-year average from MY 17/18 – MY…
