See the latest Soybeans & Oil Crops Outlook report.
Strong Demand for U.S. Soybeans Persist
Major South American soybean-producing countries typically capture a large portion of the soybean export market during the second half of the October–September marketing year. However, U.S. exports in April proved to be exceptionally strong. This looks to continue during the summer as outstanding sales of U.S. soybeans to countries typically purchasing larger quantities from Brazil at this time of the year are high. These factors contribute to a brighter outlook for 2021/22 U.S. soybean exports. Anticipations of a tighter soybean supply in 2022/23, relative to last month’s forecast, stem from increased foreign demand for old-crop U.S. soybeans.