Wedoany.com Report-Dec.12, The U.S. Department of Agriculture (USDA) has raised its outlook for the 2025/26 global soybean market in the latest World Agricultural Supply and Demand Estimates report.

World soybean production is now projected at 422.5 million tonnes, an increase of 800,000 tonnes from the prior forecast. The upward revision stems from higher expected harvests in Russia and India, which more than offset lower output in Canada and Ukraine.

Global soybean crushing is forecast to rise by 300,000 tonnes to 365.2 million tonnes, driven by greater processing capacity utilization in Russia and India due to improved domestic supplies.

On the trade side, worldwide soybean exports are anticipated to fall by 300,000 tonnes, reflecting reduced shipments from Ukraine and Benin. Soybean imports are expected to decline in Japan, Russia and Saudi Arabia, while rising in Brazil. As a result, global ending stocks are projected to grow by 400,000 tonnes to 122.4 million tonnes, with the largest increases occurring in Brazil and Russia.

The USDA maintained its projection for soybean oil used in biofuel production during the 2025/26 marketing year at 15.5 billion pounds.

For the current 2024/25 season, the estimate for soybean oil directed to biofuel production was lowered to 11.758 billion pounds from last month’s figure of 11.9 billion pounds. In the 2023/24 marketing year, actual soybean oil use in biofuel reached 12.995 billion pounds.

These adjustments reflect ongoing shifts in regional supply availability and steady demand for soybean products in food, feed and industrial applications worldwide. The revised forecasts highlight continued expansion in global soybean supplies for the coming season, supporting adequate availability for both domestic consumption and international trade.