Global soybean demand may bounce back

Sep 04, 2024
By Farms.com

Current soybean export slump set for potential upturn

U.S. soybean export sales have notably decreased at the start of the 2024-2025 marketing year, primarily due to the impacts of a strong dollar and economic uncertainties linked to U.S. trade policy. This has resulted in one of the lowest sales starts in history for new-crop soybeans as global demand wanes.

Despite this bleak outset, CoBank's Knowledge Exchange report indicates potential for a turnaround. Historical data suggest that the pace of early season soybean export sales has little correlation with final marketing year figures.

Therefore, a rebound remains a strong possibility, especially with a record U.S. harvest expected this fall that could lead to competitive pricing and renewed interest among international buyers.

Factors poised to bolster U.S. soybean exports include anticipated declines in South American soybean yields, heightened EU interest in sustainably sourced soybeans, falling U.S. interest rates, and a potential economic rebound in China. These dynamics could collectively reinvigorate global demand for U.S. soybeans, offering optimism for export sales as the year progresses.

Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.