Soybeans have become a cornerstone of American agriculture, contributing $124 billion to the U.S. economy in 2022. The legume is hailed as a versatile crop used in food, fuel and animal feed worldwide. It was a niche commodity in the 1960s before the U.S. became the top global producer. However, the U.S. has since lost its dominance, in part, thanks to its reliance on a single export market — China. Brazil has rapidly become the world’s largest producer and exporter of soybeans, supplying China with enough soy to meet its demand. The competition has pushed the American market to explore alternative uses for soy from biofuel to bioplastics. Here’s how the U.S. became a soybean stronghold before falling second to Brazil’s supply, the influence of China’s demand and how soy production ultimately feeds and fuels the world economy. Chapters: 00:00 — Introduction 01:48 — Soybean boom 03:57 — Export drama 08:28 — Biodiesel 10:55 — Future risks Produced by: Andrea Miller Edited By: Amy Marino Animation: Christina Locopo Supervising Producer: Lindsey Jacobson Additional Footage: Getty Images, United Soybean Board, ClimateAI » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC Why The U.S. Is Now Obsessed With Soybeans