Soybeans Outlook Relies On China’s Ravenous Appetite

April 27, 2015

 

 

U.S Soybean Area Planted and Harvested (Million Acres) and Yield

US Planted Soybean Acreage

Source: USDA data

 

Uses

According to Soyatech LLC, some 85 percent of the world’s soybeans are processed, or "crushed," annually into soybean meal and oil.  Around 98 percent of the soybean meal that is crushed is further processed into animal feed, with the balance used to make soy flour and proteins. Of the oil fraction, 95 percent is consumed as edible oil. The remainder is used for industrial products such as fatty acids, soaps and biodiesel.

 

U.S. Soy Usage (Million Bushels)

2010/11 2011/12 2012/13 2013/14† 2014/15*
Crush 1,648 1,703 1,689 1,734 1,805
Seed & Residual 131 88 105 97 121
Exports 1,501 1,365 1,317 1,647 1,820
Total 3,280 3,156 3,111 3,478 3,746

Source: Agriculture Marketing Resource Center, Iowa State University (Figures as at 3/20/15)

Preliminary * Estimated

 

U.S. Biodiesel Usage

2010/11 2011/12 2012/13 2013/14† 2014/15*
Soybean oil use for biodiesel1 2,737 4,870 4,689 4,800 4,700
Use for biodeisel2 237 420 402 412 409
Soybean oil for biodiesel, % oil from crop 7.10% 13.60% 13.20% 12.30% 10.30%
Soybean oil from biodiesel, % of oil from crush 14.40% 24.60% 23.60% 23.80% 22.60%

Source: Agriculture Marketing Resource Center, Iowa State University (Figures as at 3/20/15)

Preliminary * Estimated 1 Million lbs 2 Bushel equivalent

 

 

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