Argentina plans to increase soybean crush and exports in 2026/27

Argentina plans to significantly increase soybean crushing in the MY 2026/27 amid strong demand for soybean meal. According to forecasts, crushing volumes could reach 43.8 mln tons between April 2027 and March 2028, up 2 mln tons from the current season. Higher processing plant utilization will support soybean oil and meal production for domestic and export markets.

Meanwhile, Argentina is increasing soybean exports. According to shipping bill of lading data, at least 1.15 mln tons of soybeans are expected to be shipped to international markets in October 2026, with almost the entire volume destined for China. Amid strong shipments, the soybean export forecast for the current season has been raised to 5.7 mln tons.

Soybean imports are also increasing to meet the needs of Argentina’s crushing industry. The country is expected to import 7.6 mln tons of soybeans in the current season, exceeding previous estimates. Paraguay remains the main supplier, providing raw materials to Argentine processing plants for further crushing and exports of finished products.

Argentina’s domestic soybean production in 2026/27 is forecast at 50.4 mln tons, slightly below last year’s level. However, prospects for the new planting campaign remain favorable due to adequate soil moisture and improving soybean profitability compared with other crops. A potential reduction in corn acreage could also encourage farmers to expand soybean plantings.

In addition, in October 2026, Argentina’s Secretariat of Agriculture approved the commercial use of a new genetically modified (GM) soybean variety resistant to four types of herbicides — glyphosate, glufosinate-ammonium, 2,4-D, and HPPD inhibitors. The new variety was developed by crossing two previously approved GM lines. Its use will provide farmers with greater flexibility in crop protection and improve weed management efficiency.

Tags: export, soybean, Argentina