Global soybean consumption will reach a record 430 mln tons
The International Grains Council (IGC) estimates that global soybean consumption will reach a record high of around 430 million tonnes in the 2025/26 season, according to the German Union for the Promotion of Oilseeds and Protein Crops (UFOP).
The increase in consumption is driven by rising demand for meat and, consequently, high-protein animal feed, particularly in the rapidly expanding food production sector in Asia, according to a report dated October 31.
Despite good harvests, global soybean supply remains limited, and consumption is growing faster than production, leading to a decline in stocks for the first time in several years.
Regional Production
IGC forecasts global soybean production at 428 million tonnes.
- US: The harvest is estimated at 116 million tonnes, approximately 3% below the previous season’s level due to unfavorable weather conditions and harvest delays.
- Brazil: A record harvest of 177 million tonnes is forecast on approximately 47 million hectares (four times the size of Germany), strengthening the country’s position as a leading supplier.
- Argentina: Production is expected to decline slightly to 48.5 million tonnes as some farmers switch to corn and sunflower.
International Trade
Global soybean trade continues to be buoyant. Total international trade is estimated at 187 million tonnes, 3 million tonnes higher than last year.
- Brazil will continue to lead exports with a forecast volume of 113 million tonnes.
- China remains the largest consumer, importing 113 million tonnes, almost entirely from South America.
- US continues to lose market share, with exports of approximately 45 million tonnes, a 10% decline, primarily due to US government trade policies and reduced purchases by China.
According to research by Agrarmarkt Informations-Gesellschaft, global soybean ending stocks are forecast at 120 million tonnes, 3.5 million tonnes lower than last season. South America is seeing a particularly tight supply due to strong late-season exports.
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