Soybeans
U.S. Soybeans Exports in 2022
Total Export Value
$34.39 Billion
Total Volume (Millions)
57 Metric Tons
3-Year Average
$29.1 Billion
Compound Average Growth
4.8% (2013-2022)
Top 10 Markets for Soybeans in 2022
| Market | Total Value (USD) |
|---|---|
| China | $17.87 Billion |
| Mexico | $3.64 Billion |
| European Union | $2.77 Billion |
| Egypt | $2.01 Billion |
| Japan | $1.8 Billion |
| Indonesia | $1.26 Billion |
| Taiwan | $1.11 Billion |
| South Korea | $462.29 Million |
| Vietnam | $420.16 Million |
| Bangladesh | $350.57 Million |
Data and Analysis
For marketing year (MY) 2023/24, Post’s soybean import forecast is 2.4 million MT, on Bangladesh rebounding from its current economic slowdown, while local soybean production remains flat.
Modest growth in the animal protein sector is expected to raise China’s soybean imports to 97 million metric tons (MMT) in Marketing Year (MY) 23/24. The People’s Republic of China’s (PRC) removal of COVID-related restriction in December 2022 is expected to boost overall oilseed consumption.
Turkey’s production of major oilseeds – sunflowerseeds, cottonseeds, and soybeans – in marketing year (MY) 2023/24 is projected to decrease year-over-year because of pre-earthquake market dynamics.
News and Features
March 9, 2023
Export Sales to Unknown Destinations
Private exporters reported sales of 184,000 MT of soybeans for delivery to unknown destinations during MY 2022/2023.
February 16, 2023
Export Sales to Unknown Destinations
Private exporters reported sales of 128,000 MT of soybeans for delivery to unknown destinations during MY 2022/2023.
February 10, 2023
2022 Was Another Record Year for U.S. Farm Exports
The American agricultural sector posted its best export year ever in 2022 with international sales of U.S. farm and food products reaching $196 billion.
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