ST. LOUIS (May 11, 2014) – The volume of total U.S. soy exports in March 2014 climbed 51.1 percent over March 2013. Exports of soybeans, soybean meal and soybean oil all increased to put the total value of soy exports up 48.2 percent over last March.
The U.S. Department of Agriculture forecasts 60 percent of the 2013 U.S. soybean crop will be exported in the 2013/14 marketing year as unprocessed soybeans or in the form of soybean meal and soybean oil.
The volume of U.S. soybeans shipped rose 71.8 percent over last year’s numbers and their value was up 65.2 percent. Soybean oil also saw its export numbers rise significantly over last March as the volume increased 43.1 percent and its value rose 8.3 percent. There was a value change of 22.1 percent for soybean meal exports and a volume increase of 16.9 percent over last year.
U.S. soy exports’ overall value totaled $2,598,967,000 in March 2014, compared to $1,753,227,000 in March 2013. The volume of U.S. soy exports totaled 4,552,342 metric tons this March compared to 3,013,030 last year.
U.S. exports have remained strong, despite relatively high prices and record harvests in South American, especially to China, where U.S. soy imports have already exceeded the previous marketing year record, according to the April 9 WASDE report.
The U.S. Soybean Export Council aims to maximize the use of U.S. soy internationally by meeting the needs of global customers that use U.S. soy in human food and feed for poultry, livestock and fish. The organization uses a global network of stakeholder partnerships, including soybean farmers, exporters, agribusinesses, agricultural organizations, researchers and government agencies, to accomplish that mission.
For more information, contact Lisa Pine at (636) 449-6040 or LPine@ussec.org
