Production and Trade
For current coverage of the soybean industry, see the ERS
monthly newsletter Oil
Crops Outlook. See also soybean
rust economic assessment.
- U.S. soybean planted acreage:
2006: 75.5 million acres
2007: 63.6 million acres
2008: 74.8 million acres
- Farm cash receipts, soybean production:
2006: $20.5 billion
2007: $26.2 billion (forecast)
2008: $36.4 billion (forecast)
- U.S. soybean production:
2006: 3,188 million bushels
2007: 2,585 million bushels
2008: 2,973 million bushels (forecast)
- Soybean production, top five States, 2008:
IA - 437 million bushels(forecast)
IL – 376 million bushels(forecast)
MN - 278 million bushels (forecast)
IN - 255 million bushels (forecast)
NE - 235 million bushels (forecast)
- U.S. soybean exports:
2006: 1,116 million bushels (crop year)
2007: 1,145 million bushels (crop year forecast)
2008: 1,000 million bushels (crop year forecast *)
- U.S. soybean exports as percent of production:
2006: 35 percent
2007: 44 percent (forecast)
2008: 34 percent (forecast)
- U.S. soybean exports by country, 2006/07
Top five destinations:
China—408 million bushels
Mexico—144 million bushels
European Union—125 million bushels
Japan—122 million bushels
Taiwan—77 million bushels
U.S. Soybean Prices
- Farm price for soybeans:
2006 crop year average: $6.43 per bushel
2007 crop year average: $10.15 per bushel (forecast)
2008 crop year average: $12.25 per bushel (forecast)
*Crop year begins September
1 and ends August 31.
Want More Data and Information?
See also:
USDA Soybean
Rust Information Site
Soybeans and Oil Crops Briefing Room
Oil
Crops Outlook report
Soybeans and oil crops related
links (includes other USDA agencies)
Soybeans and oil crops regions
Brazil Briefing Room
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