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Abstract
The sharp rise in U.S. soybean production in recent years has been attended by a rapid increase in the volume of soybeans processed by domestic mills. Crushings rose from 218 million bushels in the 1953/54 marketing year to an estimated 575 million for 1966/67. The balance of the soybean crop is exported or used for planting seed. Variations in soybean oil and meal yields tend to cause changes in prices and total returns from marketing soybeans and soybean products. Changes in soybean oil supply tend to affect prices of food fats and oils. Changes in the supply of soybean meal impinge mainly on the feed-livestock economy. This paper is concerned mainly with (1) a discussion of factors causing variations in the total value of products per bushel of soybeans processed; and (2) the oil and protein content of 1966-crop soybeans.