See the latest Soybeans and Oil Crops Outlook report.
2026/27 U.S. Soybean Crush Is Forecast to Reach a Record High
U.S. soybean production for the 2026/27 marketing year (MY) is projected to climb by 4 percent to 4.4 billion bushels, based on higher planted area and trend yield. The yield forecast of 53.0 bushels per acre is based on a weather-adjusted trend model and assumes normal weather.
U.S. soybean crush is forecast to reach a record 2.75 billion bushels, on favorable crush margins and strong demand for soybean oil as a feedstock in biomass-based diesel production. U.S. soybean exports are forecast at 1.63 billion bushels, up 100 million bushels from MY 2025/26, on higher global soybean demand. U.S. soybean ending stocks for MY 2026/27 are forecast at 310 million bushels, down 30 million bushels from the revised MY 2025/26 projection. The MY 2026/27 U.S. season-average farm price for soybeans is forecast at $11.40 per bushel, compared with $10.40 per bushel in MY 2025/26.
Foreign soybean production for MY 2026/27 is forecast to rise by 9.2 million metric tons on higher production for Brazil, Argentina, Uruguay, Canada, the European Union, Ukraine, Serbia, and India. Furthermore, global rapeseed and sunflowerseed production is forecast to increase by 1.4 million metric tons and 7.0 million metric tons, respectively, on higher acreage and trend yield. With recovery in production, global rapeseed and sunflowerseed crush is forecast to increase to a record high level of 91.7 million metric tons and 55.6 million metric tons, supported by global demand for vegetable oils. Global palm oil production is projected to rise slightly to 81.4 million metric tons.