USDA increases forecasts for soybean light production and processing

The U.S. Department of Agriculture (USDA) has increased its forecast for global soybean production and crushing in the 2025/26 season.

Global soybean production is expected to increase by 800,000 tonnes to 422.5 million tonnes, reflecting increased harvests in Russia and India, while production in Canada and Ukraine declines.

Global soybean crushing volumes in 2025/26 are expected to increase by 300,000 tonnes to 365.2 million tonnes, primarily due to increased supplies to Russia and India.

Conversely, global soybean exports are expected to decrease by 300,000 tonnes due to lower supplies from Ukraine and Benin. Imports are expected to decrease in Japan, Russia, and Saudi Arabia, but increase in Brazil. Global ending stocks of soybeans are expected to increase by 400,000 tonnes to 122.4 million tonnes, primarily due to increased stocks in Brazil and Russia.

The agency also maintained its forecast for soybean oil use in biofuel production in 2025-26 at 15.5 billion pounds.

The estimate for soybean oil use in biofuel production in 2024-25 was revised downward to 11.758 billion pounds, down from last month’s estimate of 11.9 billion pounds. An estimated 12.995 billion pounds of soybean oil were used in biofuel production in 2023-24.

Tags: USDA Report, soybean