Processed soybeans are the largest source of protein feed and the second largest source of vegetable oil in the world. The United States is the worlds leading soybean producer and exporter. Farm value of U.S. soybean production in 200708 was $27 billion, the secondhighest value among U.S.produced crops, trailing only corn. Soybean and soybean product exports accounted for 43 percent of U.S. soybean production in 200708. Soybeans are about 90 percent of U.S. total oilseed production, while other oilseeds—such as cottonseed, sunflowerseed, canola, and peanuts—account for the remainder. ERS analyzes events in the domestic and international oilseed markets that influence supply, demand, trade, and prices.

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Website: http://www.ers.usda.gov/briefing/soybeansoilcrops/