In 2022 American farmers produced the fourth largest soybean crop on record at 117 million metric tons or roughly 4.4 billion bushels. The good news: Demand is matching global supply and prices are decent. The challenging news: Our demand for soybean oil is outpacing our demand for soybean meal. Given the math (about 80% of a soybean is meal, 20% is oil), this presents a challenge. That’s why the soybean industry has issued a challenge to find more innovative ways to utilize soybean meal. Mac Marshall, VP of Market Intelligence with United Soybean Board joins Damian for an always interesting dialogue about soybeans, world markets, and more.
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