Soya Bean Market in the United States
Market Overview
The U.S. soya bean market rose to $
in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a modest expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market remained at a lower figure.
In value terms, soya bean production reduced to $ in . Overall, the total production indicated a noticeable increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2019 indices. The growth pace was the most rapid in 2008 when the production volume increased by %. Over the period under review, production hit record highs at $ in 2014; however, from 2015 to , production remained at a lower figure.
In, the average yield of soya beans in the United States dropped to tons per ha, which is down by -% compared with the year before. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 with an increase of %. Over the period under review, the average soya bean yield attained the maximum level at tons per ha in 2016; however, from 2017 to , the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In, the harvested area of soya beans in the United States stood at ha, growing by % on figures. The harvested area increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the harvested area increased by % against the previous year. The soya bean harvested area peaked at ha in 2017; however, from 2018 to , the harvested area failed to regain momentum.
in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a modest expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market remained at a lower figure.In value terms, soya bean production reduced to $
in . Overall, the total production indicated a noticeable increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2019 indices. The growth pace was the most rapid in 2008 when the production volume increased by %. Over the period under review, production hit record highs at $ in 2014; however, from 2015 to , production remained at a lower figure.In
, the average yield of soya beans in the United States dropped to tons per ha, which is down by -% compared with the year before. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 with an increase of %. Over the period under review, the average soya bean yield attained the maximum level at tons per ha in 2016; however, from 2017 to , the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.In
, the harvested area of soya beans in the United States stood at ha, growing by % on figures. The harvested area increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the harvested area increased by % against the previous year. The soya bean harvested area peaked at ha in 2017; however, from 2018 to , the harvested area failed to regain momentum.Consumption
Soya bean consumption in the United States reached tons in , growing by % on the previous year. Overall, the total consumption indicated a mild expansion from 2007 to : its volume increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Over the period under review, consumption reached the maximum volume at tons in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.
The revenue of the soya bean market in the United States expanded to $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a slight expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption attained the peak level of $. From 2015 to , the growth of the market remained at a somewhat lower figure.
tons in , growing by % on the previous year. Overall, the total consumption indicated a mild expansion from 2007 to : its volume increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Over the period under review, consumption reached the maximum volume at tons in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.The revenue of the soya bean market in the United States expanded to $
in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a slight expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption attained the peak level of $. From 2015 to , the growth of the market remained at a somewhat lower figure.Market Forecast
Driven by increasing demand for soya bean in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .Market Structure
Over the period under review, imports of soya bean in the United States were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for soya bean.
Trade Balance
The United States remains a net exporter of soya bean; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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