US soy complex exports rise 13% on strong demand and competitive prices

US exports of soy products increased significantly in the 2024/25 marketing year, driven by stronger demand, expanded market access and improved price competitiveness, according to the US Soybean Export Council (USSEC), citing data from the US Department of Agriculture’s Global Agricultural Trade System (GATS).

In total, the United States exported 68.7 million tonnes of whole soybeans, soybean meal and soybean oil, up 13% year on year and 2.9% above the five-year average. The total value of shipments reached $29.6 billion.

Soybean meal recorded a record year, with exports rising 14% to 16.3 million tonnes. Shipments of whole soybeans increased by 11% to 51.2 million tonnes, while soybean oil exports jumped by 304% to 1.1 million tonnes.

The top five markets for the US soy complex in 2024/25 were China, Mexico, the EU-27, Egypt and the Philippines. According to USSEC Chief Executive Officer Jim Sutter, global demand for US soy remains strong and increasingly diversified despite shifting trade flows between regions.

He added that growing demand across the Americas, the Middle East and North Africa, as well as South and Southeast Asia, has helped absorb higher soybean meal supplies linked to expanding domestic crushing capacity. Soybean oil exports also rose sharply, led by purchases from India, followed by Mexico, Colombia, Venezuela and the Dominican Republic.