Soybeans
Price Chart
At a Glance
Soybeans are the world's most important oilseed, processed into soybean meal (animal feed) and soybean oil (cooking, biodiesel). Brazil has surpassed the US as the largest producer and exporter. China imports ~60% of all globally traded soybeans. The crush margin — the profit from processing soybeans into meal and oil — is a key demand indicator.
Supply & Demand
Supply
Demand
Key Drivers
China Import Demand
neutralChina imports ~100M tonnes annually to feed its livestock sector. Trade relations and herd size drive volumes.
Brazil Competition
bearishBrazil's expanding acreage and favorable climate have made it the dominant exporter, pressuring US market share.
Biodiesel Mandates
bullishGrowing biodiesel mandates (US, Brazil, EU) are increasing soybean oil demand and supporting crush margins.
US Weather
neutralAugust pod-setting in the US Midwest is the key yield-determination window for the US soybean crop.
Crush Margins
bullishStrong crush margins incentivize processors to buy more soybeans. Margins are currently healthy at ~$2.85/bu.
Argentine Peso / Policy
neutralArgentina's export taxes and currency controls affect the timing and volume of its soybean exports.
Historical Returns
| Year | Annual Return | Performance |
|---|---|---|
| 2025 | -1.80% | |
| 2024 | -22.50% | |
| 2023 | -14.50% | |
| 2022 | +14.20% | |
| 2021 | +2.40% | |
| 2020 | +37.20% | |
| 2019 | +7.00% | |
| 2018 | -8.20% | |
| 2017 | -0.20% | |
| 2016 | +17.30% |