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:
2005: 72.0 million acres
2006: 75.5 million acres
2007: 63.6 million acres
- Farm cash receipts, soybean production:
2005: $17.3 billion
2006: $20.4 billion
2007: $26.9 billion (forecast)
- U.S. soybean production:
2005: 3,063 million bushels
2006: 3,188 million bushels
2007: 2,585 million bushels
- Soybean production, top five States, 2007:
IA - 439 million bushels
IL – 350 million bushels
MN - 252 million bushels
IN - 211 million bushels
OH - 194 million bushels
- U.S. soybean exports:
2005: 940 million bushels (crop year*)
2006: 1,118 million bushels (crop
year)
2007: 1,025 million bushels (crop year forecast)
- U.S. soybean exports as percent of production:
2005: 31 percent
2006: 35 percent
2007: 40 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:
2005 crop year average: $5.66 per
bushel
2006 crop year average: $6.43 per
bushel
2007 crop year average: $10.40 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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