The poultry feed industry uses about 50% of the soybean meal (SBM) produced in the United States each year. The meal is valuable to the animal feed industry because it is an excellent source of amino acids that would otherwise be lost to the human food chain after the oil has been removed from the bean. This chapter assesses the nutritional content of SBM, as well as its anti-nutritive compounds, and considers the effects of genetic modification on SBM. The chapter looks ahead to future trends in this area of research.