The 2024/25 U.S. soybean outlook is marked by an increase in production, exports, and ending stocks. Soybean production is forecasted at 4.6 billion bushels, a 154 million bushel increase driven by expanded harvested area and a higher yield forecast of 53.2 bushels per acre.
Key Points,
U.S. soybean production is forecasted to increase by 154 million bushels, reaching 4.6 billion bushels.
Global oilseed production is up by 4.5 million tons to 690.5 million tons, with significant increases in soybeans and rapeseed.
U.S. soybean ending stocks are projected to rise by 125 million bushels, reaching 560 million bushels.
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U.S. soybean production is projected to rise to 4.6 billion bushels, reflecting an increase of 154 million bushels from last month. The harvested area is now expected to reach 86.3 million acres, up 1.0 million acres, with a yield forecast of 53.2 bushels per acre, contributing to a total supply of 4.9 billion bushels—an 11% increase from the previous year.
On the global front, total oilseed production is forecasted to increase by 4.5 million tons to 690.5 million tons, mainly due to higher soybean and rapeseed output. However, adverse weather conditions have reduced sunflower seed production by 2.3 million tons, impacting yields in several key producing countries.
U.S. soybean exports are expected to rise by 25 million bushels, contributing to a global increase in soybean exports by 1.0 million tons. Key exporters like the U.S., Ukraine, and Russia are leading this growth, though Argentina's shipments are anticipated to decline. Import demand is particularly strong in Egypt, the EU, Iran, and Turkey.
The U.S. soybean market is benefiting from favorable conditions, leading to higher production and increased export capacity. Globally, while production rises in several regions, weather-related challenges have constrained supply in others, leading to mixed outcomes in the broader oilseed market.
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The information provided in this market insight is for general informational purposes and should not be considered financial advice. It is not intended to offer any financial recommendations or endorsements. Any decisions made based on the content are the sole responsibility of the reader.
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