Brazil will achieve record soybean production, exports and processing volumes in the MY 2026/27

USDA FAS experts predict that in the MY 2026/27, Brazil will again set a record for soybean production (for the third year in a row) and exports.

The soybean harvest in the MY 2026/27 is expected to increase by 3.3% compared to the current season from 178 to 184 million tons, as the sowing area will increase by 2.8% to 50.5 million hectares, and the yield will increase by 1% to 3.64 t/ha, which will exceed the 5-year average yield by 6%.

In addition to the increase in sown areas, the increase in production is also due to improved land cultivation methods, in particular the widespread introduction of no-till farming, as well as effective resource management and investments in previous years in machinery and technologies, FAS believes.

Brazil is the world’s leading oilseed producer, providing almost a quarter of global supply. In 2026/27, the country’s total production of soybeans, cottonseed, peanuts and palm kernel oil will be 192 million tonnes, with soybeans accounting for 95% of oilseed production.

According to FAS estimates, in the MY 2026/27 soybean exports will grow by 3.9% compared to the previous season to 117.5 million tons due to active demand from China, while processing will increase by 1.6% to 62 million tons.

Soybean meal production will grow by 2% to 47.4 million tons, and its domestic consumption will grow by 3.3% to 21.7 million tons. Soybean oil production will reach 12.8 million tons, and its domestic consumption will grow by 2.7% to 11.1 million tons due to the mandatory use of biodiesel in fuel.

Experts expect a significant adjustment in world prices for soybean meal, as its production in the MY 2025/26 will cross the level of 290 million tons for the first time in history.

Tags: export, Brazil, soybean, crop forecast