Increases in US Agricultural & Manufacturing Output to Support Soybean Product Demand
Suppliers will benefit from expected increases in US output of animal feed and manufacturing activity, which are in turn bolstered by population growth and consumer spending.
- Suppliers will benefit from expected increases in US output of animal feed and manufacturing activity, which are in turn bolstered by population growth and consumer spending.
- Demand for soybean products in animal feed is projected to remain the leading market segment.
- Favorable macroeconomic and dietary trends in export markets for meat and poultry will also support demand for animal feed.
- This report forecasts to 2024 US soybean product demand in short tons (hereafter referred to as "tons") and dollars (based on farm-level prices).