Possible record of American soybean export in 2001 (12.5)

In 2001, U.S soybean exports may reach a record 27.2 million tons, worth $5.3 billion, up from 26.7 million tons this year The rise in soybean exports was mainly driven by Asian demand, especially from China Record soybean supply in the United States and weak competition from South American soybean suppliers also contributed to the increase in US soybean export shipments 2za this year, U.S exports of soybeans, soybean meal and soybean oil are forecast to reach a record 33.7 million tons, an increase of 3 million tons, or 10 percentage points, compared with fiscal 1999 exports 2za as the world's largest soybean importer, China has bought 5 million tons of us soybeans this year due to the reduction of domestic soybean production, the improvement of soybean processing capacity and the attractiveness of US soybean prices Another factor that 2za is driving U.S soybean exports is that nearly 780000 tons of U.S soybeans and soybean products will be shipped abroad through the U.S Department of agriculture's food aid program In fiscal year 2000 and early 2001, the value of soybean shipments under the food aid program, including freight, is estimated to reach about 300 million US dollars Most of the increase in export value comes from commodity exports In 2001, the total volume of bulk commodity exports is expected to reach 121.9 million tons, 9.5 million tons, or 8.5 percentage points higher than the similar export forecast in 2000, which is also the largest export volume since fiscal year 1995 2za the bottom line of the above forecast is the rapid growth of foreign demand, while the United States has abundant high-quality soybean supply to meet foreign demand.