Nebraska Soy Markets Showed Growth

By Scout Nelson

Nebraska soybean exports continued to draw global interest despite changing trade conditions and growing uncertainty around tariffs. Strong demand for high quality soy protein and oil helped keep export activity active across international markets.

At the Global U.S. Soy Summit, also known as Soy Connext, buyers, sellers and industry partners met to strengthen business relationships and explore future trade opportunities. More than 700 participants from 59 countries attended the event, showing continued global interest in U.S. soybeans. The Nebraska Soybean Board supported the event and had strong representation among attendees.

Jim Sutter, CEO of the U.S. Soybean Export Council, shared optimism about the future of trade. He explained that trade was changing but it was not going away. The event focused on building strong relationships, which remained a key part of international trade.

“About 50% of Nebraska’s soybeans get exported, including some of mine that get crushed locally and exported as soybean meal through the Pacific Northwest,” says Victor Bohuslavsky, who farms near Seward, serves as a director on the United Soybean Board and attended Soy Connext. “We sell into a global market, and events like Soy Connext help us play in that sandbox.”

Trade optimism was mixed with caution as global tariffs and pricing concerns continued to influence markets. China had not yet placed new soybean orders for the upcoming marketing year, which created uncertainty for exporters.

In the 2023/24 market year, exports to the Greater China Region represented 23% of the U.S. Soy market share and remained the largest export destination. Soybeans remained the nation’s top agricultural export, adding $31.2 billion to the U.S. economy and reaching more than 80 countries.

New crop sales to other countries were reported as the strongest since 2018, offering a positive sign for Nebraska soybean exports. While trade uncertainty remained, global demand growth supported continued export opportunities for Nebraska soybeans.

Photo Credit: istock-oticki