Soybean meal production in the US, Argentina and Brazil will increase sharply

According to analysts at Oil World (Germany), combined soybean meal production in the United States, Argentina, and Brazil—the top three producing countries—will increase by 1.8 million tons from April to September 2026, reaching 68.9 million tons. The main driver of this growth will be strong domestic consumption in the United States.

The United States is increasing processing faster than livestock production, indicating that other feed crops are being displaced. The expected production volume for April–September is 27.2 million tons (up 1.12 million tons year-on-year).

Brazil will increase production to 24.02 million tons (from 23.28 million tons).

Argentina will show a symbolic decline, to 17.66 million tons (from 17.71 million tons).

From October to March 2025/26, meal production in these countries increased by 1.6 million tonnes to 64.5 million tonnes. The United States once again held the record (28.91 million tonnes), while Argentina reduced output to 14.13 million tonnes. In the second half of the season (April–September), exports from the three countries are forecast to increase to 37.37 million tonnes (up 1.17 million tonnes). Analysts expect increased competition between North and South America, which will put pressure on global prices.

• USA: Shipments will increase to 8.75 million tonnes (from 8.08 million).
• Brazil: to 12.96 million tonnes (from 12.27 million).
• Argentina: Exports will decrease to 15.66 million tonnes (from 15.85 million).

Since the start of the season (October–March), total G-3 meal exports amounted to 33.8 million tons. The decline in shipments from Argentina (minus 1 million tons) was fully offset by record shipments from the United States (plus 1 million tons).

Tags: Brazil, soybean meal, USA, Argentina