A study by the Juday Group released by the U.S. Meat Export Federation shows that in 2023, pork and beef exports of $18.1 billion contributed an economic impact of 14.6% per bushel to the value of corn and 13.9% per bushel of soybeans.

That equates to 87 cents per bushel for 2023 corn at an average price of $5.95 per bushel and $1.95 per bushel of soybeans based on an average 2023 price of $14.07.

The study shows that 2023 pork exports accounted for 96.8 million bushels of soybean usage. Pork exports also contribute a total economic impact of $8.12 billion to U.S. soybeans when looking at the $1.95 per bushel added value for the 4.165 billion bushels produced last year.

Pork and beef exports contributed an economic impact of $13.35 billion to U.S. corn when using that 87 cents per bushel in added value for the 15.34 billion bushels produced in 2023.

Read more on how red meat exports add value to corn and soybean value here.