See the latest Soybeans & Oil Crops Outlook report.
2025/26 Global Soybean Stocks Increased on Higher Production for Brazil and Paraguay
Global soybean stocks for marketing year (MY) 2025/26 are forecast at a record high level of 125.5 million metric tons, up 1.1 million metric tons from last month’s forecast on higher production for Brazil and Paraguay, more than offsetting the demand growth. Global soybean production is raised this month by 2.5 million metric tons to 428.2 million metric tons. Brazil’s soybean production is forecast to reach another record high of 180.0 million metric tons, on higher harvested acreage and yield. Similarly, record soybean production is forecast for Paraguay at 11.5 million metric tons, driven by higher yields. Soybean yields are increased due to favorable weather conditions in the major soybean growing regions during January.
Global soybean trade is unchanged this month at 187.6 million metric tons. China's soybean import forecast is unchanged at 112.0 million metric tons. Global soybean crush for MY 2025/26 is forecast higher at 368.0 million metric tons, driven by higher crush in Brazil and Paraguay. Brazil’s crush forecast is raised 1.0 million metric tons, to a record of 61.0 million metric tons, on strong demand for soybean products.