Soy Exports Set New Record

U.S. exports $12 billion in soy.

Published on: Nov 14, 2008

Over 1.5 billion bushels of soy were exported this year setting an all-time record. In addition to 1.1 billion bushels of whole soybeans, 346 million bushels of soybean meal were exported, an increase of 11% over last year. Soybean oil exports increased 68% from last year with 1.1 million metric tons exported.

"Checkoff-funded global demand-building programs have demonstrated their success with another record-setting year," says Terry Ecker, soybean farmer from Elmo, Mo., and United Soybean Board International Marketing chair. "The programs work diligently to make sure that overseas customers prefer U.S. soy. The numbers prove our checkoff farmer leaders understand the importance of marketing U.S. soybeans."

The top importer of U.S. soy was China, followed by Mexico, Japan, and the European Union. Checkoff programs such as bringing foreign buying teams to the U.S. and livestock feeding demonstrations that prove the advantages of using U.S. soybeans helped increase exports. Also, USB farmer leaders traveled abroad to meet with farmers, agricultural associations and government officials to inform them about the quantity, quality and nutritional benefits of U.S. soy.

"These numbers show the success of the checkoff and farmers working together," says Vicki Coughlin, a soybean farmer from Watertown, Wis., and USB director.