PieTrader

Soybeans are grown as a food crop in East Asia and produced in Western agriculture as a source of oil and protein. The United States, Brazil, Argentina, Canada, Paraguay and Uruguay are the largest global soybean producers and exporters, accounting for more than 85.0% of global production. For many years, the United States was the world's leading producer and exporter of soybeans.

Following a one-month high of $10.3, soybean futures dropped below $10 per bushel due to concerns about decreased demand in the face of an adverse climate for the biofuel sector under the incoming Trum administration. Lee Zeldin, the president-elect Donald Trump's choice to lead the U.S. Environmental Protection Agency (EPA), is anticipated to undermine the Renewable Fuel Standard Program, which mandates that transportation fuel sold in the US include a minimum amount of renewable fuels. Furthermore, for the marketing year ending in September 2025, China, the largest importer of soybeans worldwide, is anticipated to reduce imports by 9.5%, bringing demand down from 109.4 million metric tons to 98.8 million tons. Chinese buyers have been stockpiling ahead of the U.S. election, anticipating that trade tensions with the U.S. may worsen under Trump’s return. Meanwhile, Russian wheat exports have also slowed, as demand remains weak and a new export regulation is introduced to curb domestic price hikes.

Soybean is one of the protein powder and oilseed products. During the period 2021/2022, about 162.76 million tons of soybeans are imported globally. China is by far the top soybean importer, with an annual import volume of about 97 million tons that year. The soybean market is forecast to record a CAGR of 3.5% during the forecast period (2022-2027). The soybean market is driven by the increasing adoption of vegan diets in Western countries due to the popularity of plant-rich proteins in the diet. The enhanced health awareness of consumers due to higher living standards also has a positive impact on the market.