Brazil raises soybean export forecast to a record 115.4 mln tons

The Brazilian Vegetable Oil Industries Association (Abiove) has raised its 2026 soybean export forecast to 115.4 mln tons, up 1.1% from its June estimate. If achieved, the figure will set a new national record and further strengthen Brazil’s position as the world’s leading soybean exporter.

Abiove also increased its forecast for domestic soybean crushing to 63.3 mln tons, compared with the previous estimate of 63.0 mln tons. The revision reflects continued investment in processing capacity and the expansion of value-added production.

The association also raised its forecast for export revenue from soybeans, soybean meal and soybean oil to $60.6 bln, up from the previous estimate of $59.9 bln. At the same time, the soybean meal export forecast was slightly reduced to 24.9 mln tons, 50 thsd tons below the June outlook.

Ending soybean stocks for 2026 are now projected at 6.58 mln tons, down from the previous estimate of 7.87 mln tons. Despite the downward revision, inventories would remain the highest since 2019, indicating a comfortable supply buffer while supporting Brazil’s continued expansion in global soybean and value-added product exports.

Tags: Brazil, soybean, crop forecast