World soybean processing volume in 2024/25 MY will reach a new record – forecast

Experts of Oil World agency (Germany) predict that the volume of soybean processing in the world in the season 2024/25 will increase by 13 mln tons per year, reaching a record 340-341 mln tons.

The increase in soybean processing is due to the high demand for soybean oil and meal.

The global soybean production in 2024/25 season is also expected to increase to 416.5 mln tons from the forecasted 388.76 mln tons in 2023/24 season. In particular, the U.S. plans to harvest 121 mln tons of soybeans.

The oilseed stocks by the end of 2024/25 season (August 2025) may reach 119 mln tons, which will be the second highest in the history of observations and exceed the expected result of 2023/24 season by 19 mln tons.

Tags: soybean oil, soybean, soybean meal, USA, crop forecast