Efforts to diversify the destinations and soy commodities exported from the U.S. paid off in 2022, when export value in the previous marketing year surpassed $40 billion. Matt Amick, Missouri Soybeans director of market development, says America’s soy exporters successfully sold their product to more countries than in previous years.
Amick notes that not only are the destinations increasing in number, so too are the soy-based products sought by them. He adds that soymeal may see greater demand in the years ahead.
Export volumes in 2022 were at their second-highest level at 71.8 million metric tons. Matt Amick of Missouri Soybeans notes that over half of that was certified under the U.S. Soy Sustainability Assurance Protocol.