Soy Stats Introduction

Introduction

Soy Stats^Ž, A Reference Guide To Important Soybean Facts & Figures, is a comprehensive resource for statistical information about the U.S. soybean industry and its relationship to world oilseed production. Publication of the Soy Stats Online Guide here on SoyStats.com will make this information available to millions of people in the United States and around the world.

Major funding for the 2009 edition of Soy Stats^Ž was provided by the United Soybean Board, with additional financial support from the Illinois Soybean Association, Indiana Soybean Alliance, Iowa Soybean Association, South Dakota Soybean Research & Promotion Council, North Dakota Soybean Council, Ohio Soybean Association, U.S. Soybean Export Council, Minnesota Soybean Research & Promotion Council, North Carolina Soybean Producers Association, Arkansas Soybean Association and Texas Soybean Association.

Soybeans were planted on 75.7 million acres (30.6 million hectares) in 2008, producing 2.959 billion bushels (80.54 million metric tons) of soybeans. The average price paid to farmers was $9.25 per bushel ($340 per metric ton). The total 2008 crop value exceeded $27.3 billion.

In 2008, soybeans represented 56 percent of world oilseed production, and 33 percent of those soybeans were produced in the United States. The United States exported 1.16 billion bushels (31.6 million metric tons) of soybeans, which accounted for 40 percent of the world's soybean trade.

U.S. soybean and product exports exceeded $20 billion in 2008. China was the largest customer for U.S. soybeans with purchases exceeding $7.2 billion. Mexico was the second largest market for U.S. soybeans with purchases exceeding $1.7 billion. Other significant buyers included the European Union with purchases of $1.6 billion and Japan with purchases of $1.3 billion.

Mexico was the largest customer for U.S. soybean meal at $561 million, Canada was second with purchases of $470 million, and the Philippines was third with purchases of $244 million. Mexico was also the largest customer for U.S. soybean oil with purchases of $290 million, and China was second with purchases of $149 million.

Domestically, soybeans provided 70 percent of the edible consumption of fats and oils in the United States. The domestic crush level was 1,801 million bushels (49.02 million metric tons), with U.S. ending stocks of soybeans at 205 million bushels (5.58 million metric tons).

The menu located at the top left of your browser window provides access to the various sections of the Soy Stats Online Guide. For a quick look at all the available information, see the Table of Contents.