See the latest Soybeans & Oil Crops Outlook report.
Global Soybean Stocks Declined on Lower Production and Higher Crush in South America
Global soybean stocks in marketing year (MY) 2024/25 are forecast down 4.0 million metric tons to 124.3 million metric tons on lower production. Soybean production is lowered to 420.8 million metric tons with decreased production in both Argentina and Paraguay. Soybean yields were cut due to unfavorable weather conditions in the major soybean growing regions during January. Brazil’s soybean production forecast is unchanged and stands at 169.0 million metric tons.
Global soybean crush is forecast higher at 349.9 million metric tons as higher crush in Brazil more than offset lower crush in Paraguay. Brazil’s crush is raised 1.0 million metric tons to 56.0 million metric tons on strong demand especially for soybean oil from the domestic biodiesel industry. With stronger crush, global soybean meal exports are forecast up 0.7 million metric tons with stronger imports from Iran.