Ohio Soybean Industry Overview

 
 
General
 
In processing, soybeans are cleaned, cracked, dehulled and rolled into flakes.  This process separates the oil and meal components.  Soybean oil finds its way into food products and industrial products such as plastics and biodiesel.  The soybean meal is used to feed livestock.
 

In 2010:

    • 4.6 million acres of soybeans were planted in Ohio
    • 222 million bushels of soybeans were harvested in Ohio
    • The average yield was 47 bushels per acre in Ohio
    • The average price paid to Ohio farmers was $10.10
 
 
 
Other:
  • Ohio ranks 6th in soybean production among U.S. states
  • Ohio's soybean industry is valued at $2.6 billion
  • There are 26,000 soybean farmers in Ohio
 
 
Top 5 soybean-producing counties per acres harvested in 2009:
    1. Wood - 142,800
    2. Darke - 140,800
    3. Hancock - 129,800
    4. Putnam - 123,800
    5. Seneca - 122,800
 
For more statistics about the Ohio and U.S. soybean industry, visit www.soystats.com .
 
Market Analysis
 
 
Production Trends:
  • Consolidation has led to a decrease in number of soybean farms
  • U.S. average farm size went from 431 acres in 1997 to 441 acres in 2002
  • Acreage competition from corn will continue through 2015
  • Soybean yields are likely to increase both nationally and in Ohio
  • Commodity prices will rise as the demand for corn and soybeans continues to increase
 
User Trends:
  • Primary domestic uses for soybeans are: 48% animal (meal), 45% human (oil and meal), and 7% industrial consumption (oil)
  • Animal agriculture in Ohio has experienced moderate growth during the past decade
  • Soy biodiesel production will continue to grow with government support
  • In 2012, the U.S. soy biodiesel industry broke the 1 billion gallon mark 
  • Ohio has a soy biodiesel production capacity of 67.5 million gallons
  • Biofuels will impact Ohio's budget by $4.5 million
 
Key Issues:
  • Increased competition for market share from other countries has significantly impacted the U.S. soybean industry in recent years
  • U.S. market share of global soybean production fell from 90% in 1980 to 50% in 2005 (soybean yields in Brazil have grown 153%; between 1995 and 2005 Brazil went from 8% to 35% of global trade)
  • Although China was able to double its domestic soybean production over the last two decades, total soybean use far outstripped this increase in production
  • Modernization of the lock and dam system along the Mississippi and Illinois Rivers is critical to the success of the soybean industry
 
To view a complete analysis of the Ohio soybean industry (including production, user and key issues trends, soy biodiesel, animal agriculture and new uses for soybeans) download the Ohio Soybean Industry Environmental Scan.