Exploring the Latest Developments in U.S. Soy
Soy is the world's largest protein crop, with more than 2 500 varieties grown worldwide. More than half of the global soybean produce is crushed to make soya flour and soybean oil, while the remaining is used to make vegetarian food, like miso, tofu, tempeh, soy milk, and edamame.
The U.S. is the world's 2nd largest soy producer after Brazil, accounting for 123 664 230 million tons of soy in 2023 and exports valued at $27.8 billion.
Booming soy production in the United States has been partly aggravated by the US soybean farmers' commitment to sustainably delivering superior quality soy protein, with processes like crop rotation, carbon net neutrality goals, and water and soil conservation being an added advantage. Here's a look at some of the latest developments in U.S. Soy:
U.S. Soy Production Now Has Less Impact on the Environment
U.S. Soy's latest development has led farmers to meet the US sustainability guidelines by practicing more environment-friendly ways of producing soy instead of area conversion and deforestation that generate greenhouse gasses. Farmers no longer convert grasslands and forests into farmlands, endangering valuable species and habitats while risking local, traditional livelihoods.
US soy farmers now follow sustainable soy farming solutions, like reduced-till or no-till, agrichemicals, crop rotation, cover crops, nutrient management, and precision farming to improve efficiencies and produce more sustainable soy.
Such practices have reduced greenhouse gas emissions per unit of soy protein, increased yields, and improved the on-farm efficiency to lower their environmental impact.
Growth in Soybean Acreage
In the last 20 years, US soy acreage has increased by 18% from 74 million acres to 87 million acres. Over the years, modern soy production practices, public policies in place, environmental factors, and the rise in export demand have increased soy production and acreage in the United States.
In 2021-2022, US soy exports earned a record $40.42 billion on 2nd highest volumes. With an increase in global soy demand, US farmers are all set to plant 87.5 million acres of soy, per the USDA or US Department of Agriculture's March 31 Prospective Plantings Report.
They are dedicated to meeting customers' requirements while innovating simultaneously to ensure US soy remains the most sustainable, high-quality, and reliable soy. The USDA further reports that in 15 of 29 soybean-growing US states, soy-planted acreage will increase and, if perfectly taken care of, the planted regions in Nebraska, Illinois, and Wisconsin.
Changes in Soy Demand
US soy production has exploded in the past 50 years, with production for 2021 totaling a record-high 4.44 billion bushels, up 5% from 2020. Record high yields were identified in 21 US states, with the average soybean yield standing at 51.4 bushels per acre in 2021. Besides soybean production volume, its value has increased in the US to 57.5 billion US dollars in 2021.
US soy output for the marketing year 2023, between September and August, stands at a record high of 125 million tonnes, supported by an all-time high acreage estimate. Although the United States has witnessed high soybean yields over time, much of this increase in production is driven by cropland expansion.
As per the March 31 forecast for 2022-23 planting intentions by the US Department of Agriculture, soybean acreage will increase to a record high of 91 million acres and if the soy yield trend line holds steady and strong in 2023, coupled with 91 million acres of planting area', it will offer a record harvest of something more than 125 million tonnes.
As per the USDA's March 15 Foreign Agricultural Service report, soybean demand in China may reach an all-time high of 100 million metric tonnes in 2023, showcasing a steady recovery in animal feed demand from the poultry and livestock sectors.
Fertilizer Price Hikes Have Favored Soybean Farming in the US
The ever-increasing fertilizer prices have been one of the biggest reasons behind the large-scale development of soy farming in the US. With the prices of fertilizers, like ammonia and DAP or diammonium phosphate hitting record highs, farmers are more inclined to shift towards sustainable soybean farming, considering its cost-effectiveness.
U.S. Soy Rides the Health and Wellness Wave
US soy stands out for several reasons in the present era of beneficial plant proteins. Soy milk and tofu from the United States are widely consumed in several Asian nations considering the solid standing of sustainably produced US soy backed by decades of research.
Analysts also report that US soy may effectively treat and prevent serious diseases, like coronary heart disease, stroke, cardiovascular disease, and some types of cancers. Besides, US soy may also improve bone health while blocking the effects of estrogen.
Conventional fermented soy products from US soy, like miso, tempeh, and natto, have recently drawn attention for their nutritional effects on gut bacteria.
Probiotic foods, like soy yogurt, are rich in live organisms, increasing the population of healthy microbes in the gut.
Even fermented soy foods, like natto, miso, and tempeh, including probiotic soy milk and several soy yogurt products, contain live cultures or probiotics offering many wellness benefits, like anti-aging, anti-cancer, and anti-obesity effects. Brand new soy products like post-biotic and prebiotic fortified tofu also respond well to the evolving demands of health-conscious consumers.
Conclusion
So, there you are! Latest developments in US soy are not only meeting the growing demand for sustainable soy across the world but also contributing to human health while solving social challenges, like food security and quality, at the same time.
US soy plays a significant role in improving the sustainability of operations, ensuring companies deliver the best products while minimizing their environmental impact.