US heads toward a record soybean crush in the MY 2025/26

The United States is on track to reach an all-time high in soybean processing in the MY 2025/26. According to estimates from Oil World, total crush volumes could exceed 71 million tonnes, significantly surpassing the 66.5 million tonnes recorded in the previous season.

Current processing dynamics already point to strong momentum. Data from NOPA shows that 208.8 million bushels of soybeans were crushed in February. Although this is 6% lower than in January, it still marks a record for the month. The decline is attributed solely to fewer calendar days, while the daily crush rate reached a new peak.

Since the beginning of the marketing year, cumulative crush volumes have climbed to 36.3 million tonnes, well above last year’s level and the five-year average. Increased processing has boosted soybean oil production, but weaker demand from the biofuel sector has led to rising inventories. By the end of February, soybean oil stocks had reached 1.2 million tonnes, the highest level in several years.

At the same time, export performance has moved in the opposite direction. U.S. soybean exports dropped sharply in the first half of the season, contributing to a buildup of domestic supplies. As a result, the market remains well supplied, potentially putting pressure on prices and reshaping demand patterns in the months ahead.

Tags: soybean, USA