overview
Processed soybeans are the largest source of protein feed and vegetable oil in the world. The United States is the world's leading soybean producer and exporter. Farm value of U.S. soybean production in 2002/03 was $15.2 billion, the second-highest value among U.S.—produced crops, trailing only corn. Soybean and soybean product exports accounted for 47 percent of U.S. soybean production in 2002. Soybeans equal about 90 percent of U.S. total oilseed production, while other oilseeds—such as cottonseed, sunflowerseed, and peanuts—account for the remainder. ERS analyzes events in the domestic and international oilseed markets that influence supply, demand, trade, and prices.

contents

• Background
• Trade
• Market outlook
• Policy

features
Economic and Policy Implications of Wind-Borne Entry of Asian Soybean Rust into the United States examines how the potential economic impacts of soybean rust in the United States will depend on the timing, location, spread, and severity of rust infestation and on how soybean and other crop producers, livestock producers, and consumers of agricultural commodities respond to this new pathogen.

Peanut Policy Change and Adjustment Under the 2002 Farm Act examines the experience of the peanut sector following the 2002 Farm Act's elimination of the marketing quota system. Although peanut prices and acreage declined following elimination of the marketing quota, increased planting flexibility has allowed growers to expand production in higher yielding areas; and sector revenues are expected to be relatively stable.

recommended readings
How Does Structural Change in the Global Soybean Market Affect the U.S. Price? concludes that South American soybean production, combined with the U.S. soybean stocks-to-use ratio, provides a strong basis for forecasting U.S. soybean prices. The article estimates that a 1-percent increase in South American soybean production decreases U.S. soybean prices by about one-quarter percent.

China: A Study of Dynamic Growth assesses China's rapid economic growth since 1978, which has been driven by high rates of investment, gains in productivity, and liberalized foreign trade and investment. China's growth is likely to continue, but the Chinese economy faces some potentially unsustainable pressures, including possible currency appreciation, rising rural-urban inequality, unemployment, banking reforms, and an unusual combination of inflationary and deflationary tendencies.

India's Edible Oil Sector: Imports Fill Rising Demand examines factors underlying India's emergence as the world's leading importer of edible oils and evaluates U.S. export prospects. Income and population growth, trade policy reforms, and domestic agricultural policies affecting the productivity of India's oilseed farmers and processing sector have contributed to increased consumption and import demand.

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recommended data products
Monthly tables from the Oil Crops Outlook contain the latest data on U.S. production, imports, domestic use, exports, and prices for each of the major oilseeds, vegetable oils, and oilseed meals.

Oil Crops Yearbook provides key data on U.S. and world oilseed acreage, supply, demand, and prices. It includes data on U.S. soybeans, cottonseed, peanuts, sunflowerseed, other special oilseeds, tropical oils, corn oil, and animal fats, as well as extensive time series data sets on U.S. oilseeds markets. The tables also are available in Excel (*.xls) format.

Soybean Costs and Returns provides data and analyses for regional and national categories back to 1975.

Foreign Agricultural Trade of the United States (FATUS) provides U.S. agricultural exports and imports, volume and value, by country, by commodity, and by calendar year, fiscal year, and month, for varying periods, such as 1935 to the present or 1989 to the present. Updated monthly or annually.

Production, Supply & Distribution (PS&D) contains official USDA data on production, supply, and distribution of agricultural commodities for the United States and major importing and exporting countries. The database provides projections for the coming year and historical data for more than 200 countries and major crop, livestock, fishery, and forest products.

WTO Agricultural Trade Policy Commitments Database contains data on implementation of trade policy commitments by WTO member countries. Data on domestic support, export subsidies, and tariffs are organized for comparison across countries. This queriable database offers various options for viewing and downloading data.

newsletter
Oil Crops Outlook provides an update each month (except in October) of market developments for soybeans, other oilseeds, and their products.

related briefing rooms
Agricultural baseline projections
U.S. agricultural trade
Farm and commodity policy
Farm income and costs
Farm structure

related links
Websites of other USDA agencies, the Department of Commerce, and universities contain valuable information on soybeans and other oil crops.

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See all maps and images...

for more information, contact: Mark Ash or Erik Dohlman
web administration: webadmin@ers.usda.gov
page updated: October 21, 2004