US soybean exports are half of last year’s level

The U.S. Department of Agriculture (USDA) Export Inspection Report showed that U.S. soybean exports approached market expectations, increasing 27% from the previous week, but still remained 48% below year-over-year expectations.

For the week ending October 9, 2025, U.S. soybean exports totaled 994,000 metric tons, compared to a revised 783,500 metric tons in the previous week and 1,907,000 metric tons in the same week last year.

As of October 15, total U.S. soybean exports for the 2025/26 season reached 4 million metric tons, down 26.1% year-over-year and representing 8.8% of the annual target, compared to 6.6% last week.

As a reminder, the low export figures are due to a lack of orders from China, the largest buyer of American soybeans. It was previously reported that soybean exports from Brazil and Argentina, which replaced supplies on the market, would set a record.

Tags: soybean, USA, export