Global Markets

Why Global Markets Matter: Fueling Growth, Delivering Value

As your trusted partner, the Soy Checkoff understands the critical importance of global markets. Our commitment to meeting international demand drives economic prosperity and ensures a sustainable future for all.

Economic Powerhouse

U.S. soybeans proudly hold the position as America’s No. 1 agricultural export, contributing a substantial $31.2 billion (source) into the U.S. economy. Our international portfolio underscores the vital role soybeans play in bolstering the nation’s economic strength. Your investment in U.S. Soy directly supports this economic engine.

Meeting the Growing Global Demand

The future is bright for U.S. soybean products. Global demand is projected to increase for the 2025/26 marketing year (source). This growth is fueled by rising calorie intake in middle-income countries, driven by increased consumption of food staples, livestock products and fats, as highlighted in the  Food and Agriculture Organization of the United Nations’ Agricultural Outlook. As a reliable source of high-quality, sustainable nutrition, soybeans are uniquely positioned to meet this escalating demand, contributing to global food and nutrition security.

U.S. Soy Reaches New Markets, Sets New Records

  • U.S. Soy is actively expanding its global footprint, forging new partnerships and strengthening existing relationships with exporters and importers. This strategic approach is yielding impressive results.
  • Top Export Destinations: Our top trading partners demonstrate the global demand for U.S. soybeans (source):
    • China: 24.96 million metric tons, $13.23 billion
    • Mexico: 6.83 million metric tons, $3.42 billion
    • EU: 5.64 million metric tons, $2.84 billion
    • Philippines: 2.71 million metric tons, $1.22 billion
    • Indonesia: 2.61 million metric tons, $1.32 billion
    • Japan: 2.38 million metric tons, $1.31 billion
    • Colombia: 1.77 million metric tons, $842 million
    • Canada: 1.66 million metric tons, $863 million
    • Vietnam: 1.44 million metric tons, $707 million
    • Egypt: 1.26 million metric tons, $636 million
  • In 2023-24, U.S. soybean meal exports reached a record-breaking 14.4 million metric tons, valued at a staggering $6.7 billion. This represents a remarkable 10% increase from the previous year and a 17% surge over the five-year average, demonstrating the growing global demand for U.S. soybeans.  (source) When it comes to meal exports, the Philippines remains the #1 market, purchasing 2.6 million metric tons of U.S. soybean meal in 2023-24. We are also witnessing significant growth in other regions. Mexico and Canada continue to be strong partners, ranking second and third, respectively. (source) But the story doesn’t end there.
  • Over the past five years, demand for U.S. soybean meal has soared in (source):
    • Vietnam: Up an astounding 110%, reaching 743,942 metric tons.
    • Venezuela: Surging by 94% to 653,217 metric tons.
    • Indonesia: Growing by 49% to 192,922 metric tons.
    • Costa Rica: Increasing by 40% to 145,033 metric tons.
    • Sri Lanka: Climbing by 41% to 253,664 metric tons.
    • European Union – Expanding 37% to 721,473 metric tons.
  • This diversified growth underscores the global recognition of U.S. soybeans as a reliable, high-quality, and sustainable solution for a wide range of applications.

The U.S. Soy Advantage: Driven by Dedication, Powered by Innovation

What sets U.S. soybeans apart? It starts with the unwavering commitment of nearly half a million U.S. soybean farmers who invest in the Soy Checkoff, cultivating the crops that nourish the world. But it doesn’t stop there. Your checkoff dollars are strategically channeled through key partnerships focused on market access, trade development and building preference for U.S. Soy.

Despite increasing competition from other soybean-producing countries, the U.S. soybean industry continues to solidify its position as the supplier of choice, a testament to the quality, reliability, and sustainability of U.S. soybeans. Looking ahead, the checkoff remains steadfast in its commitment to expanding soybean exports and driving demand for high-quality animal feed and soy foods, ensuring a secure and sustainable future for U.S. soybean products and our global partners.

Key Takeaways: U.S. Soy — A Global Force for Nutrition and Economic Growth

  • Global Reach: U.S. soybeans nourish the world, with customers in more than 80 nations relying on its nutritious and sustainable protein for human consumption, aquaculture and livestock feed.
  • Soy Checkoff Driving International Demand: In the last 5 years, the Soy Checkoff has driven international demand for U.S. Soy by 1.8 billion bushels, or an 18% increase in soybean exports. (source)
  • Diversified Product Portfolio: S. Soy offers a comprehensive range of products to meet diverse global needs:(source)
    • Whole Soybeans:1 million metric tons, valued at $24.2 billion
    • Soybean Meal:4 million metric tons (up 10% from prior year), valued at $6.7 billion
    • Soybean Oil: 279,759 metric tons, valued at $334 million
  • Future Growth Potential: Supported by increasing demand for livestock and poultry production, the USDA projects world soybean meal trade to increase nearly 10.7% to 81.3 million metric tons by 2033-34, creating significant opportunities for U.S. soybeans. (source)
  • U.S. Soy Sustainability Assurance Protocol Meets Customer Expectations
    • One example of the checkoff’s work to highlight soy sustainability is the U.S. Soy Sustainability Assurance Protocol (SSAP). SSAP helps meet international customers’ demand for sustainably sourced soy ingredients.
    • Companies have a competitive advantage buying U.S. Soy that is verified under the SSAP compared to soy from other countries of origin, like Brazil.
    • In 2024, SSAP-verified shipments grew to 71 percent, the highest ever share of total soy exports.
    • USSEC’s Sustainable U.S. Soy and Fed with Sustainable U.S. Soy labels are used by 147 companies across 21 countries on more than 1,100 products. For background, the “Fed with Sustainable U.S. Soy” label can be used on products like pork, poultry and shrimp where at least 60% of the soy in the feed ration was sustainable U.S. Soy, as verified with SSAP certificates.

Explore Further: Key Resources for U.S. Soy Insights 

To delve deeper into U.S. Soy’s global markets, we encourage you to explore these valuable resources:

  • U.S. Soybean Export Council (USSEC): ussec.org — Discover how USSEC is building preference, improving value and enabling market access for U.S. Soy across more than 80 countries.
  • World Initiative for Soy in Human Health (WISHH): wishh.org — Learn how U.S. Soy is improving nutrition and livelihoods around the world through trade development and partnerships across nearly 30 countries.
  • U.S. Poultry & Egg Export Council (USAPEEC): usapeec.org — Explore soy’s role in supporting the poultry and egg industries and driving export growth.
  • U.S. Meat Export Federation (USMEF): usmef.org — Delve in more about how U.S. Soy increases the value and profit opportunities for the U.S. beef, pork and lamb industries.
  • U.S. Soy Market View Database: unitedsoybean.org/tools-calculators — The Market View Database is the go-to source for supply and demand facts and figures of the entire soybean industry.
  • U.S. Department of Agriculture (USDA): usda.gov — Access comprehensive data, reports and resources on U.S. agriculture.Click here to view USDA agricultural projects including forecasts for soybean demand and trade.