Quality continues to be an important soybean marketing issue. This report summarizes current knowledge on the following soybean quality topics: • protein and oil composition of the 2004 U.S. soybean crop, • the 2004 crop in historical perspective, • weather conditions affecting the 2004 crop, • Asian soybean rust and its possible impact on the U.S. soybean crop, • programs by growers and U.S. processors to improve quality, • a study being funded by ASA to examine foreign material in soybean shipments, and • the production of low-linolenic soybeans. The data and analyses in this report are intended to assist customers in the sourcing and use of U.S. soybeans.