U.S. soybean and soybean meal exports have topped 1 billion bushels in 2006, with 1.2 billion bushels worth. Soybean exports alone have almost reached a billion, at over 937 million, with soybean meal exports coming in at over 282 million bushels worth.
The largest market for U.S. soybeans continues to be China, the destination for over 356 million bushels in this marketing year. Mexico exported the most soybean meal and oil, due in part to its strong livestock industry and with the help of the U.S. soybean checkoff, according to United Soybean Board International Marketing chair Terry Ecker.
"Mexico's livestock industry is flourishing, which results in more consumption of soybean meal in feed rations," he says. "Increased use of U.S. soy in Mexico is a direct result of international marketing efforts put in place by the soybean checkoff."
The U.S. soybean checkoff funds the United States Soybean Export Council, which helps U.S. soybean farmers gain access to new market opportunities, and USB gives USSEC credit for helping to create and maintain markets for U.S. soybeans.
"USSEC is on the ground overseas working to increase the demand for U.S. soy through educational efforts to buyers and consumers," says USB Competitiveness chair Mark Pietz.