Production is estimated at 3.1 million tonnes, down from 3.3 million tonnes in 2024-25. Last year’s harvest was the highest output in eight years and among the top harvests on record, the FAS said.
This year, corn is regaining favor following concern over the leafhopper pest. A colder-than-normal winter controlled the pest, prompting producers to increase corn acreage, the FAS said.
Domestic soybean crushing is limited, with just under 10% of total production processed locally, mostly at a single large facility. Crush is expected to increase slightly to 170,000 tonnes, generating 135,000 tonnes of soymeal and 30,000 tonnes of soy oil.
Uruguay primarily exports the bulk of its soybeans as whole beans, with top markets in China and Argentina. At the same time, it imports soymeal and oil for domestic feed and food industry needs.
Exports are forecast at 2.9 million tonnes, a drop of 100,000 tonnes from the previous year.
“China remained the dominant destination for Uruguayan soybeans in calendar year 2024, absorbing nearly 80% of total exports,” the FAS said. “China’s preference for whole soybean imports, to be crushed domestically, continues to drive this trade.”
Argentina is the second largest export market, seeing an 800% increase year over year.
“These flows were driven by Argentina’s substantial crushing capacity and a period of low domestic soybean sales, as Argentine producers delayed marketing their crop in anticipation of changes to export taxes, exchange rate movements, or more favorable prices,” the FAS said.
In 2025-26, exports to Argentina are expected to normalize as Argentine farmer selling patterns stabilize. Additional export growth is expected in Egypt, Malaysia and the European Union.
