WASHINGTON — After a record value of beef and pork exports in 2022, US corn and soybean industries also experienced a value boost, according to a study from World Perspectives Inc., which was released by the US Meat Export Federation (USMEF). Corn’s value rose 15% per bushel, and soybeans increased 13% per bushel.

“For every bushel of corn we marketed in 2022, a little over $1 was attributed to red meat exports and with soybeans, pork exports contributed $1.94 per bushel,” said Dean Meyer, USMEF chair and producer of corn, soybeans, cattle and hogs near Rock Rapids, Iowa. “Pork and beef exports bring critical support to our bottom lines.”

World Perspectives’ study looked at data from the US Department of Agriculture’s National Agricultural Statistics Service.

The study found beef and pork exports accounted for 503.4 million bushels of US corn usage, with a market value of $3.4 billion. The average price of corn per bushel was $6.75.

Pork exports accounted for 89.7 million bushels of US soybean usage, with a market value of $1.33 billion. The average price per bushel was $14.83.

“We are a major exporter of corn and soybeans but this study reminds us of the value of our indirect exports of corn and soybeans through pork and beef,” said Dave Juday, senior analyst for World Perspectives. “The contributions of pork and beef exports to the per-bushel value of US corn and soybeans in 2022 were the highest estimates we’ve seen to date. And that was critically important, as corn and soybean farmers worked to maintain margins with higher input costs across the board.”