# Demand grows for U.S. soybeans

> A Minnesota farmer and United Soybean Board member says demand for US soybeans is growing. He estimates that 10 to 12 million more soybean acres may be needed within five years, drawn from corn or wheat. He says livestock, trade and biofuels set soybean prices and that meal demand is strong.

- Date: 2023-12-19 · published 2023-12-19T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/15257-demand-grows-for-u-s-soybeans
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Rising demand projections from livestock, exports and biofuels support soybean prices and could shift planting toward soybeans. Strong meal demand also supports crush margins.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Sources

- farmprogress.com: https://www.farmprogress.com/soybean/demand-grows-for-u-s-soybeans

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.