Production and Trade
For current coverage of the soybean industry, see the ERS
monthly newsletter
Oil
Crops Outlook.
- U.S. soybean planted acreage:
2006: 75.5 million acres
2007: 64.7 million acres
2008: 75.7 million acres
- Farm cash receipts, soybean production:
2006: $20.5 billion
2007: $27.0 billion
2008: $28.6 billion (forecast)
- U.S. soybean production:
2006: 3,197 million bushels
2007: 2,677 million bushels
2008: 2,959 million bushels (estimated)
- Soybean production, top five States, 2008 (estimated):
IA - 445 million bushels
IL – 428 million bushels
MN - 264 million bushels
IN - 244 million bushels
NE - 226 million bushels
- U.S. soybean exports (crop year*):
2006: 1,116 million bushels
2007: 1,161 million bushels
2008: 1,210 million bushels (forecast)
- U.S. soybean exports as percent of production:
2006: 35 percent
2007: 43 percent
2008: 41 percent (forecast)
- U.S. soybean exports by country, 2007/08
Top five destinations:
China—505 million bushels
European Union—135 million bushels
Mexico—132 million bushels
Japan—109 million bushels
Taiwan—70 million bushels
U.S. Soybean Prices
- Farm price for soybeans:
2006 crop year average: $6.43 per bushel
2007 crop year average: $10.10 per bushel
2008 crop year average: $9.65 per bushel (forecast)
*Crop year begins September
1 and ends August 31.
Want More Data and Information?
See also:
Soybeans and Oil Crops Briefing Room
Oil
Crops Outlook report
Soybeans and oil crops related
links (includes other USDA agencies)
Brazil Briefing Room
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