U.S. Soybean Growers Push Production Higher as Farm Acreage Shrinks

U.S. agricultural land has contracted by about 7% since the turn of the millennium, and more than 300,000 farms have disappeared, according to the Department of Agriculture. Yet global appetite for American soybeans continues to climb, driven largely by China, which consumes more soy than any other nation. Kentucky farmer Barry Alexander, whose family has cultivated the land for seven generations, is concentrating on maximizing yields per acre and shipping a sizable portion of his crop overseas via river routes to the Gulf of Mexico.

The American Soybean Association acknowledges that trade tensions and a 10% Chinese tariff hinder competitiveness against South American exporters. Nonetheless, the United Soybean Board’s checkoff program, funded by a share of soybean profits, supports research that has doubled U.S. production since the early 1990s and opened novel applications such as soy-based tire rubber and foam. Higher soy prices this year, combined with larger export orders, give growers hope of breaking even after years of rising input costs.