See the latest Soybeans & Oil Crops Outlook report.
2025/26 U.S. Soybean Ending Stocks Forecast Is Unchanged This Month
U.S. soybean ending stocks forecast for marketing year (MY) 2025/26 is projected at 290.0 million bushels, unchanged from last month. The U.S. soybean supply and demand forecasts for MY 2025/26 are unchanged this month. The 2025/26 U.S. season-average farm price for soybeans is forecast at $10.50 per bushel, unchanged from last month’s forecast but higher than the MY 2024/25 price of $10.00 per bushel. With unchanged domestic supply and demand for soybean meal and soybean oil, meal and oil price forecasts are unchanged this month and stand at $300.00 per short ton and $0.53 per pound, respectively.
For the foreign oilseed market, this month’s outlook is for higher soybean production in Russia and India—along with higher rapeseed production in Australia, Canada, and Russia. Higher rapeseed and soybean production more than offset lower sunflowerseed production in Ukraine and Russia for MY 2025/26. In addition, palm oil production in Indonesia for both MY 2024/25 and MY 2025/26 is reduced.
Global rapeseed and soybean crush forecasts are raised this month due to higher supply, while sunflowerseed crush is reduced. Global soybean and rapeseed ending stocks for MY 2025/26 are projected higher this month on higher production, while sunflowerseed stocks are reduced to the lowest level since MY 2020/21.