USDA pegs global oilseed output in 2025-26 at 692.10 mln tn, up 2% on year
This story was originally published at 12:04 IST on 13 May 2025
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MUMBAI – The US Department of Agriculture has pegged global oilseed production in 2025-26 (May-Apr) at 692.10 million tonnes, up 2.2% from 677.16 million tonnes in 2024-25, it said in its World Agricultural Supply and Demand Estimates report for May.
The output of oilseeds in countries excluding the US is estimated at 563.63 million tonnes, up from 548.81 million tonnes seen last year. Production of oilseeds in the US in 2025-26 is seen at 128.47 million tonnes, slightly higher than 128.35 million tonnes in 2024-25. Global ending stocks of oilseeds in 2025-26 are pegged at 143.24 million tonnes, up from 141.30 million tonnes in 2024-25, according to the report.
Global soybean production is forecast at 426.82 million tonnes, up 1%, with higher production in Brazil, Paraguay, Russia, and China offsetting lower production in the US, Canada, Argentina, Ukraine, and Uruguay. The department sees soybean production in the US at 118.12 million tonnes, slightly lower than 118.84 million tonnes in the last marketing season.
According to the data, Brazil's soybean output is projected to rise 3.5% on year to a record 175 million tonnes. Argentina's soybean production is likely at 48.50 million tonnes, down 1% on year, as some farmers have shifted to sowing corn from soybean, the report said. Brazil is the biggest producer of soybean, followed by the US and Argentina.
Global soybean exports for 2025-26 were seen at 188.43 million tonnes, mainly due to higher exports from South American soybean-producing countries. Exports from these countries are expected to rise 8.50 million tonnes from last year, more than offsetting lower exports from the US, the report said.
Global soybean imports for 2025-26 are projected at 186.82 million tonnes. Global ending stocks of soybean in 2025-26 are pegged at 124.33 million tonnes, up from 123.18 million tonnes in 2024-25, mainly due to higher stocks in Brazil and Argentina, which offset lower US stocks, the report said.
The US government agency sees global soybean meal output in 2025-26 at 287.63 million tonnes, up from 278.11 million tonnes last year. Soybean meal is a derivative of soybean, manufactured by crushing oilseeds, and is mainly used in producing poultry feed.
The 2025-26 outlook for US soybean shows slightly lower supplies, higher crush, reduced exports, and lower ending stocks compared to 2024-25, the report said. The US season-average soybean price forecast for 2025-26 is $10.25 per bushel, compared with $9.95 per bushel in 2024-25. Soybean meal price is forecast at $310 per short tonne, up $10 per short tonne. The soybean oil price is forecast at 46 cents per pound, up 1 cent from the previous year, the department said in its report.
The combined global production of rapeseed and sunflower seed is expected to recover 6% on year in 2025-26 after a drought in several major producing countries lowered yield last year. Rapeseed production in the European Union is forecast at 19.20 million tonnes, up 14% on year, while in Canada it is seen at 19.50 million tonnes, up 4% on year. Sunflower seed production is seen higher in the European Union, Ukraine, Russia, and Turkey.
"Increased supplies of rapeseed and sunflower seed products compete with soybean meal in major markets, like the EU (European Union), and soybean oil and palm oil in major vegetable oil markets like India, China, and the EU," the department said.
The projection for global vegetable oil production has been raised to 234.55 million tonnes from 227.77 million tonnes a year ago.
Production of soybean meal in India in 2025-26 has been projected at 9.08 million tonnes, up from 8.80 million tonnes last year. India is one of the largest importers of soy oil and an exporter of soybean meal. End
US$1 = INR 84.89
Reported by Shreya Shetty
Edited by Nishant Maher
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