Soybean meal demand pushes global trade to a new record

Global soybean meal trade is expected to continue growing in the 2026/27 season, supported by ample feedstock supplies and rising demand from the animal feed sector. According to USDA, global exports are forecast to reach 89.4 mln tons, up 4.3% from the previous season and marking a fourth consecutive record.

However, the pace of trade growth is expected to slow compared with the previous three seasons. Increasing use of soybean meal in animal feed production remains the main driver of the market.

Argentina is expected to remain the world’s largest soybean meal exporter, with shipments reaching 29.6 mln tons, up from 29 mln tons last season. Brazil is forecast to rank second with 27.1 mln tons, followed by the United States with nearly 20.6 mln tons.

Global soybean meal imports are also expected to set another record. In 2026/27, imports are forecast at around 85.4 mln tons, up 3.5% from the previous season. Global purchases have been expanding for several consecutive years amid growing demand for feed proteins.

The European Union is expected to remain the world’s largest importer, increasing purchases by 300 thsd tons to 20.4 mln tons. Vietnam and Indonesia are forecast to follow with imports of 6.9 mln tons and 6.8 mln tons, respectively.

Tags: soybean meal, global market