Farms.com Home   Ag Industry News

Soybean output hits new high amid biofuel booms

By Farms.com

An unprecedented growth in global soybean production is anticipated for the 2024-25 season, with projections showing a rise to 422 million tons. This growth is largely attributed to the increased demand for biofuels in the U.S. and strong import demand from China.

The expansion of biofuels in the U.S. has significantly boosted the domestic need for soybeans, especially as a feedstock for biodiesel production. Soybean oil alone constituted over 40% of the biodiesel feedstock last year, a significant increase that underscores the crop's growing importance in the renewable energy sector.

Despite the recovery in South American soybean production following last year's drought, the full impact of their expected bumper crops will not be felt until next year. This delay gives U.S. growers and exporters a temporary competitive advantage in the global market.

Additionally, while China continues to be a major player in the import market, its efforts to increase domestic soybean production could influence global prices as the year advances.

However, for now, the U.S. market is expected to benefit from high domestic demand and continued strong exports, although these are projected to stay slightly below the recent five-year average.


Trending Video

Better Farming Ontario - Proudly Serving the World's Best Farmers for Over 25 Years

Video: Better Farming Ontario - Proudly Serving the World's Best Farmers for Over 25 Years


For over 25 years, Ontario Federation of Agriculture members have trusted Better Farming as a source for information to help them farm profitably, with insights and best practices for cash cropping, soil health, pest and weed control, livestock, and farm business management.

Watch this video to learn more about Better Farming and its relationship with producers across Ontario.

Message from Better Farming:

To our OFA farming readers, thank you for your time and your trust, for 25 years now. We look forward to continuing the journey with you.