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USBU.S. soybean exports continue multi-year surge

Agriculture.com Staff 11/24/2009 @ 2:22pm

Even though fall harvest has been off to a slow start in many parts of the country, the 2008/2009 marketing year for U.S. soy exports showed no signs of slowing down the continuing trend of year-after-year growth, according to a report from the United Soybean Board (USB).

With more than 1.56 billion bushels of U.S. soy exported, soy remains the leading U.S. agriculture export valued at $15 billion. Soybean checkoff-funded international marketing efforts assist U.S. soybean farmers and the U.S. soy industry in reaching these record-breaking exports.

Of the 2008/2009 soybean crop, the U.S. exported 55%, including 1.24 billion bushels of whole soybeans. The U.S. exported nearly 320 million bushels of U.S. soybean meal, and exports of U.S. soybean oil totaled nearly 900,000 metric tons.

"The checkoff funds programs that help increase the demand and preference for U.S. soybeans around the world," says Jim Call, soybean farmer from Madison, Minnesota, and USB International Marketing chair. "And, despite the worldwide economic situation, U.S. sales of soy internationally have increased."

For the 2008/09 marketing year, China remained the top importer of U.S. soybeans with a total of 686 million bushels or 23% of total U.S. soybeans. Mexico imported the most U.S. soybean meal at 56 million bushels and the second-highest amount of U.S. soybeans with 113 million bushels and U.S. soybean oil with 110,600 metric tons. Total Mexico imports of U.S. soy equaled over $1.6 billion. India imported the most U.S. soybean oil, totaling 172,600 metric tons. U.S. soybean exports to Japan dropped slightly at 88 million bushels. The European Union remained a strong market as the Netherlands imported 32 million bushels and Germany imported 25 million bushels.

Even though fall harvest has been off to a slow start in many parts of the country, the 2008/2009 marketing year for U.S. soy exports showed no signs of slowing down the continuing trend of year-after-year growth, according to a report from the United Soybean Board (USB).

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