Key Takeaways:

Expected growth in U.S. soybean crushing capacity and output, driven by biofuel demand, will increase domestic soymeal supplies, with production growth significantly outpacing demand. WPI forecasts soymeal production increasing from 65.8 million short tons in 2026/27 to 70.5 million by 2030/31, while domestic use rises from 44.1 million to 45.2 million short tons. The difference between the added production and domestic use means that soymeal exports must expand commensurately to prevent a buildup in ending stocks. WPI forecasts that export requirements rise from 22.8 million to 26.3 million short tons and account for 37 percent of production by 2030/31. WPI examines the sensitivity of soymeal demand to different livestock i...