Soybeans
U.S. Soybeans Exports in 2024
Total Export Value
$24.47 Billion
Total Volume (Millions)
52.21 Metric Tons
3-Year Average
$28.85 Billion
Compound Average Growth
2.6% (2015-2024)
| Market | Total Value (USD) |
|---|---|
| China | $12.84 Billion |
| European Union | $2.43 Billion |
| Mexico | $2.3 Billion |
| Indonesia | $1.25 Billion |
| Egypt | $1.01 Billion |
| Japan | $1 Billion |
| Taiwan | $601.39 Million |
| Vietnam | $483.8 Million |
| Bangladesh | $348.9 Million |
| Turkey | $336.01 Million |
Data and Analysis
Argentina’s oilseed outlook for marketing year (MY) 2025/26 reflects mixed dynamics across the sector. Soybean planted area is forecast to fall to 16.5 million hectares as farmers shift back to corn and expand sunflower acreage, resulting in forecasted soybean production of 47.5 MMT.
Brazil’s soybean sector continues to demonstrate strong momentum, with MY 2024/25 production reaching a new record driven by higher yields—particularly in São Paulo, Goiás, and the MATOPIBA region—supported by favorable weather and improved cultivation practices.
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.
News and Features
Private exporters reported sales of 123,000 MT of soybeans for delivery to China during MY 2025/2026.
Private exporters reported the following sales activity for MY 2025/2026: 132,000 MT of white wheat for delivery to China and 462,000 MT of soybeans for delivery to China.
Private exporters reported sales of 330,000 MT of soybeans for delivery to China during MY 2025/2026.