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Soy Exports Hit Record Value in 2013

Shipments of whole soybeans, meal, oil hold steady to meet customer needs

Published on: Dec 16, 2013

The U.S. soy industry exported 1.7 billion bushels of U.S. soy in the 2012-2013 marketing year, totaling $28 billion, a 19% increase from 2011-2012.

According to the U.S. Census Bureau, this total includes more than 1.3 billion bushels of whole U.S. soybeans, meal from 454 million bushels of U.S. soybeans and oil from 186 million bushels, which represents 56 percent of U.S. soybean production from last year.

Soy exports for the 2013-2014 marketing year are off to a good start with 87% of the total 2014 export forecasts already sold.

Top buyers of whole U.S. soybeans in 2013 include:

• China: 772 million bushels

• Mexico: 98 million bushels

Shipments of whole soybeans, meal, oil hold steady to meet customer needs
Shipments of whole soybeans, meal, oil hold steady to meet customer needs

• Japan: 63 million bushels

Top buyers of U.S. soybean meal in 2013 include:

• Mexico: meal from 59 million bushels of U.S. soybeans

• Philippines: meal from 47 million bushels of U.S. soybeans

• Canada: meal from 43 million bushels of U.S. soybeans

Top buyers of U.S. soybean oil in 2013 include:

• China: oil from 37 million bushels of U.S. soybeans

• Mexico: oil from 35 million bushels of U.S. soybeans

• India: oil from 21 million bushels of U.S. soybeans

"The reliability and quality of the U.S. soy supply are just a few reasons that customers keep buying U.S. soybeans, meal and oil," says Jared Hagert, soybean farmer from Emerado, N.D.

"Continuing to meet our customers' needs is very important to U.S. soybean farmers, and these numbers prove we are doing that," he said.