The 9th survey by the United States Department of Agriculture (USDA) for the 2024/25 global soybean harvest brought important adjustments to the global scenario. Total production was reduced by 2.9 million tons, mainly reflecting the smaller harvest in the United States, which fell 2.6 million tons compared to the previous estimate, now totaling 118.8 million tons. On the other hand, global soybean consumption was revised upwards and could reach a record 405.5 million tons, an increase of 1.9 million compared to the previous survey. Brazil, the world’s leading producer, had its harvest projected at 169 million tons, while Argentina is expected to harvest 52 million. Global final stocks, on the other hand, fell by 3.5 million tons, which could put pressure on prices on the international market. The forecast for global exports, however, remained stable, totaling 182 million tons, with Brazil and the US leading shipments.
Less soybeans in the field, more demand in the market: USDA adjusts projections
