Global Soybean Production Projected to Reach 442.7 Million Tonnes

Chicago. In its October report compared to September, the US Department of Agriculture (USDA) has slightly lowered its estimate for global soybean beginning stocks for the 2026-27 season, while raising projections for global production, crushing/processing, exports, and ending surplus stocks. This could impact the market.

In its September report, the USDA had projected global soybean production of 442.35 million tonnes for the 2026-27 season; this figure has been raised to 442.7 million tonnes in the October report. The revised outlook anticipates a significant increase in US soybean yields, whereas production is expected to decline in India and the European Union.

The USDA has lowered its estimate for global soybean beginning stocks from 125.27 million tonnes to 124.93 million tonnes. Conversely, the projection for global exports has been raised from 191.58 million tonnes to 192.0 million tonnes. Significant growth in soybean exports is anticipated from the US and Nigeria. Ending surplus stocks for the 2026-27 season are projected to reach 124.28 million tonnes, slightly higher than the 124.02 million tonnes estimated in the September report. Brazil is set to remain the world's leading soybean producer and exporter in the 2026-27 season.