Global Soybean Market

70% of the Soybeans produced are used as high protein animal feed.  Soy Sauce and many other products are made from soybeans.

Global production of soybeans is 355.7 million metric tons.

http://beef2live.com/story-world-soybean-production-ranking-country-0-164836

Soybean Imports by Country

China 88 million metric tons

EU 15.8 million mmt

Argentina 5.35 mmt

Mexico 5.23 mmt

Egypt 3.35 mmt

Japan 3.3 mmt

Thailand 3.15 mmt

Taiwan 2.73 mmt

Indonesia 2.73 mmt

Turkey 2.6 mmt

Others 18.98 mmt

https://www.statista.com/statistics/612422/soybeans-import-volume-worldwide-by-country/

Soybean Production Change by Country

Brazil 117 mmt 123 mmt +6 mmt

US 123.6 mmt 112.9 -10.7 mmt

Argentina 56 mmt 53 mmt -3 mmt

China 15.9 mmt 17.0 mmt +1.1 mmt

India 11.5 mmt 10.9 mmt -0.6 mmt

Paraguay 9.0 mmt 10.2 mmt +1.2 mmt

Canada 7.3 mmt 6.3 mmt -7.0 mmt

Brazil increased production of soybeans and the US decreased its production of soybeans. US farmers now need buyers for 112.9 mmt.

China is buying soybeans from Brazil.

https://www.reuters.com/article/us-china-economy-trade-soybean/china-march-soy-imports-jump-from-february-as-u-s-brazil-beans-arrive-idUSKCN1RO0SX

Soybean Price History

2019 $8.285 / bu

2018 $10.50 / bu

2017 $9.05 / bu

2016 $8.65 / bu

2015 $8.71 / bu

2014 $14.63 / bu

2013 $14.58 / bu

2012 $17.58 / bu

2008 $15.34 / bu

https://www.macrotrends.net/2531/soybean-prices-historical-chart-data

Soybean prices were up from 2008 to 2014, but dropped in 2015 due to increases in supply. The US has 300,000 soybean farmers who were counting on high demand from China in 2019, but that didn’t happen.  US farmers should have reduced their soybean production when global production increased and prices dropped in 2015.

There are 36.74 bushels in 1 metric ton. At $8.285 / bu, soybeans sell for $304.39 per metric ton. Global production is 355.7 mmt worth $108.272 billion.

Norb Leahy, Dunwoody GA Tea Party Leader