Soy Stats, A Reference Guide To
Important Soybean Facts & Figures, is a comprehensive resource for statistical
information about the U.S. soybean industry and its relationship to world oilseed
production. Publication of the Soy Stats Online Guide here on SoyStats.com will make this information
available to millions of people in the United States and around the world. This resource
is made possible through the financial support of Syngenta Seeds.
Soybeans were planted on 73.2 million acres (29.7 million hectares) in 2003, producing
2.418 billion bushels (65.81 million metric tons) of soybeans. The average price paid to
farmers, $7.65 per bushel ($281 per metric ton), which was 38 percent higher than the
price producers received in 2002. The total 2003 crop value exceeded $18.4 billion.
In 2003, soybeans represented 56 percent of world oilseed production, and 34 percent of
those soybeans were produced in the United States. The United States supplied 40 percent
of the world's soybean trade.
U.S. soybean and product exports were $9.7 billion in 2003. China became the largest
customer for U.S. soybeans with purchases totaling $2.9 billion. The European Union was
the second largest market for U.S. soybeans with purchases of $1.1 billion. Other
significant buyers included Mexico with purchases of $981 million, and Japan with
purchases totaling $957 million.
Canada was the largest customer for U.S. soybean meal at $242 million, Mexico was
second with purchases of $150 million, and Indonesia was third with purchases of $96
million. Mexico was the largest customer for U.S. soybean oil with purchases of $82
million, and Canada was second with purchases of $72 million.
Domestically, soybeans provided 80 percent of the edible consumption of fats and oils
in the United States. The domestic crush level was 1,475 million bushels (40 million
metric tons), with U.S. ending stocks of soybeans down to 115 million bushels (3.13
million metric tons).
The menu located at the top left of your browser window provides access to the various
sections of the Soy Stats Online Guide. For a quick look at all the available information,
see the Table of Contents.