U.S. farmers plan to plant 83.5 million acres of soybeans in 2025, which is 4% less than last year. Most of this drop is happening in the Corn Belt and Northern Plains, where farmers are choosing to grow corn instead, because it offers better profits.

Even though fewer soybeans are being planted, the soybean crush (the process of turning soybeans into meal and oil) is increasing. From September to February, the crush was up 5% compared to last year. This is because there’s more demand for soybean meal, which is used in animal feed, and soybean oil, which is used in cooking and biofuels.

Soybean meal prices have dropped about 20% from last year, making it a cheaper option for farmers feeding livestock. At the same time, soybean oil exports are rising. In March alone, the U.S. exported 1.2 billion pounds of soybean oil much more than last year.

Globally, soybean crushing is expected to reach a record 354.8 million metric tons in 2024/25. Countries like Argentina, Brazil, Ukraine, and the U.S. are leading this growth. Global soybean oil exports are also set to reach a record 13.9 million metric tons, partly because palm oil production in Southeast Asia has fallen.

India, one of the biggest buyers, is expected to import a record 4.6 million metric tons of soybean oil this year to make up for the shortfall in palm oil.

Meanwhile, China’s soybean imports dropped in March to the lowest level in 17 years. This was mostly due to shipping delays from Brazil. However, U.S. soybean exports are growing. Between September and February, exports rose 10%, and export commitments are already 14% higher than they were at this time last year.

Ongoing trade tensions between the U.S. and China are also shifting global supply chains, as buyers look for more reliable source.

Source :- USDA