Soybean Meal
U.S. Soybean Meal Exports in 2024
Total Export Value
$6.35 Billion
Total Volume (Millions)
14.74 Metric Tons
3-Year Average
$6.59 Billion
Compound Average Growth
2.9% (2015-2024)
| Market | Total Value (USD) |
|---|---|
| Philippines | $1.01 Billion |
| Mexico | $894.13 Million |
| Canada | $667.24 Million |
| Colombia | $654.32 Million |
| Vietnam | $361.43 Million |
| Venezuela | $295.72 Million |
| Dominican Republic | $263.31 Million |
| Guatemala | $253.88 Million |
| European Union | $241.59 Million |
| Ecuador | $212.15 Million |
Data and Analysis
Vietnam’s soybean crushers are expanding capacity with new production lines. As a result, soybean imports are expected to rise, while local soybean meal production increases and imported soybean meal declines in Marketing Year (MY) 2025/26.
Indonesia's palm oil export estimate is revised down from the previous estimate to 22.8 MMT in 2024/25 due to the B40 mandate and reduced export demand.
Paraguay’s soybean production is forecast to rebound to 10.9 million metric tons (MMT) in MY2025/26 on improved weather and modest acreage gains, following weather-driven losses the previous year.
News and Features
Private exporters reported sales of 185,000 MT of soybean cake and meal for delivery to the Philippines during MY 2025/2026.
Private exporters reported sales of soybean meal to the Philippines and corn to Mexico.
Private exporters reported sales of corn, soybeans, and soybean cake and meal to unknown destinations.