IGC in May 2025: global soybean market situation 2025/26 remains at a high level
In its latest May 25 issue, the International Grains Council (IGC) publishes an updated estimate of the supply situation on the global soybean market. Global production is raised to 428 million tons (previous year: 420 million tons); the IGC estimates consumption at 429 million tons (previous year: 410 million tons). At 81 million tons (previous year: 81.8 million tons), stocks remain almost at the previous year's level.
The global soybean market is mainly dominated by the 3 North/South American producing countries USA, Brazil and Argentina. On the consumption side,1. China and the EU-27 are far and away in first place on the consumption side.
Brazil is the world's largest producer with 168.5 million tons in the almost completed 2025 harvest, of which 107 million tons will be exported. A harvest of 174 million tons is already being targeted for next year, 2026.
The USA is in 2nd place with a harvest expectation of around 118 million tons in the months of Sep/Oct 2025. Cultivation areas have been restricted. Exports are estimated to rise to 70.5 million tons.
After the disastrous previous years,Argentina brought in 49 million tons in the first half of 2025 (previous year: 49 million tons). The country mainly exports soybean oil, soybean meal and biodiesel from soybean oil. Bean exports are low.
On the import side, China is in first place with a little changed import volume of 108 million tons or 60% of global trade. Domestic production is only 21 million tons. The EU will achieve soybean production of around 2.9 million tons in 2024 and import around 14.4 million tons of beans and 14 million tons of meal.
The current and future market situation is characterized by a continued above-average supply situation in 2025/26. Accordingly, soybean prices will remain at a reduced level.
