Biofuel Boom to Push US Soy Meal Exports to New High

Shipments of US soybean meal to other countries are expected to climb to a record high next year as more of America’s top oilseed crop is crushed for vegetable oil sought after to make green diesel.

America’s soy meal, which is created along with oil during crushing of whole soybeans, is forecast to reach exports of 13.9 million tons in the 2023-24 season, the US Department of Agriculture said Monday. That would exceed the record 13.2 million tons valued at almost $7 billion that was hit in the season ended in September.

Higher global demand for US meal ...