US soybean meal production to grow 4.5% next season, prices to fall

The U.S. Department of Agriculture (USDA) in its August Supply and Demand Report maintained its soybean meal production forecast at 59.85 million tons for 2025/26, up 4.5% from a year earlier.

Domestic consumption will reach 41.775 million tons, up 2.8% from a year earlier. Exports will total 18.7 million tons, up 4.5% from a year earlier. Ending stocks were 475,000 tons, up 5.6% from a year earlier.

In this regard, the agency forecasts a decrease in the average annual price of soybean meal by $10 to $280 per ton.

In MY 2024/25, the USDA estimates that soybean meal exports increased from 17.4 million tons last month to 17.9 million tons, but production declined, so ending stocks remained unchanged at 450 thousand tons.

According to OleoScope, the US CBOT soybean meal price for August delivery on 19.08.2025 was $316.80/t, which is $7.72/t higher than the previous value of 18.08.2025 ($309.09 /t).

Earlier it became known that US farmers are calling on Trump to conclude a deal on soybean purchases with China. China’s switch to Brazilian soybeans instead of US products is costing bean producers billions of dollars. China will buy 54% of U.S. soybean exports worth $13.2 billion in the 2023-24 marketing year, according to the U.S. Soybean Trade Association (ASA). The country’s soybean imports hit a record high in July of this year, but not from the United States.

Tags: prices, soybean meal, USA