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Why The U.S. Is Now Obsessed With Soybeans

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Soybeans have become a cornerstone of American agriculture, contributing $124 billion to the U.S. economy in 2022. The legume is hailed as a versatile crop used in food, fuel and animal feed worldwide. It was a niche commodity in the 1960s before the U.S. became the top global producer. However, the U.S. has since lost its dominance, in part, thanks to its reliance on a single export market — China. Brazil has rapidly become the world’s largest producer and exporter of soybeans, supplying China with enough soy to meet its demand. The competition has pushed the American market to explore alternative uses for soy from biofuel to bioplastics. Here’s how the U.S. became a soybean stronghold before falling second to Brazil’s supply, the influence of China’s demand and how soy production ultimately feeds and fuels the world economy.

Chapters:
00:00 — Introduction
01:48 — Soybean boom
03:57 — Export drama
08:28 — Biodiesel
10:55 — Future risks

Produced by: Andrea Miller
Edited By: Amy Marino
Animation: Christina Locopo
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images, United Soybean Board, ClimateAI

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Why The U.S. Is Now Obsessed With Soybeans
Category
Tech
Tags
CNBC, CNBC original, business
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