The U.S. Soybean Export Council has released key export data for U.S. soy export marketing year 2008-2009, which ended September 30, 2009. It was a phenomenal year for exports with the third record year of soybean exports in a row and over 55% of the U.S. 2008 soybean crop exported. Soybean exports were up 11% from the previous marketing year.
Iowa Soybean Association director of market development Grant Kimberley expects strong demand to continue for soybeans and soy products.
"As people continue to improve their diets by consuming more meat protein, world demand is projected to remain strong for soybeans and soybean meal," says Kimberley. "International marketing is one of ISA's top priorities, and we will continue our work to build demand and create customer preference for Iowa and U.S. soybeans."
China was by far the top soybean export market with over 686 million bushels, followed by Mexico with 113 million bushels. Mexico was the top soybean meal export market and India was the top soybean oil export market.
All export data below.
- U.S. Soy Marketing Year 2008/09
- Total soy exports -- 1.56 billion bushels
- Soybean exports -- 1.24 billion bushels
- Soymeal exports -- 318 million bushels
- Soyoil exports -- 886,000 metric tons
- % of 2008 crop exported -- 55%
- Value of exported soy -- $15 billion
- China imports of total U.S. production -- 23%
Top U.S. Soybean Export Markets
- China -- 686 million bushels
- Mexico -- 113 million bushels
- Japan -- 88 million bushels
- Taiwan -- 58 million bushels
- Indonesia -- 49 million bushels
- Egypt -- 41 million bushels
- Netherlands -- 32 million bushels
- Turkey -- 27 million bushels
- Germany -- 25 million bushels
- Syria -- 15 million bushels
Top U.S. Soybean Meal Export Markets
- Mexico -- 56 million bushel equivalents
- Canada -- 47 million bushel equivalents
- Venezuela -- 25 million bushel equivalents
- Philippines -- 22 million bushel equivalents
- Dominican Republic -- 15 million bushel equivalents
- Turkey -- 14 million bushel equivalents
- Japan -- 12 million bushel equivalents
- Guatemala -- 11 million bushel equivalents
- Panama -- 6 million bushel equivalents
- Morocco -- 6 million bushel equivalents
Top U.S. Soybean Oil Export Markets
- India -- 172,600 metric tons
- Mexico -- 110,600 metric tons
- Morocco -- 95,600 metric tons