U.S. Soy and Soy Product Usage, USDA
Typically, U.S. domestic meal consumption is the largest demand driver of U.S. soybean meal production, accounting for 74 percent of U.S. soybean meal production. Since marketing year 2023/24, U.S. soybean meal exports have reached record highs, as crush expansion has expanded more than the domestic demand can utilize (for more information, see Oil Crops Outlook, January 2025)*. While a higher share of soybean meal is going to the export market, more of the soybean oil is being used domestically as a feedstock for biomass-based diesel production. In turn, this development has reduced the share of soybean oil being exported and used in food, feed, and other industrial, which includes stocks at biofuel processing facilities (for more information, see Oil Crops Outlook, December 2023)**.
https://www.ers.usda.gov/topics/crops/soybeans-and-oil-crops/oil-crops-sector-at-a-glance
*https://ers.usda.gov/publications/pub-details?pubid=110702
**https://ers.usda.gov/publications/pub-details?pubid=108090