Soybeans: Stocks
When the world uses more soy than it grows
What this tab covers How much is left and how much is held. For minerals and energy: reserves, current output, years of supply and recycling for the top five countries. For farm commodities: production, ending stocks and stocks-to-use for the top five producers (USDA, October 2026). It also covers inventories and stockpiles.Top five producers: production and stocks (USDA, 2026/27)
| Country | Production | Share | Ending stocks | Stocks-to-use |
|---|---|---|---|---|
| Brazil | 186,000 | 42% | 37,280 | 19.9% |
| United States | 124,100 | 28% | 8,572 | 6.9% |
| Argentina | 50,000 | 11.3% | 24,070 | 42.9% |
| China | 21,000 | 4.7% | 44,260 | 32.5% |
| Paraguay | 11,100 | 2.5% | 355 | 3.2% |
| World | 442,700 | 100% | 124,300 | 28.1% |
Stockholding and policy
No recycling applies. World ending stocks were 124.9 Mt in 2025/26, a 28.9% stocks-to-use ratio, and China held 44.4 Mt of them (35%), partly in Sinograin state reserves (WASDE Oct 2026). India holds no strategic soybean stock; NAFED and NCCF stocks bought at MSP (about 20 lakh t in 2024-25) are auctioned back to crushers. India's soybean futures are suspended by SEBI since 20 December 2021; the ban on seven agri contracts (incl. soybean and derivatives, crude palm oil, mustard) was extended to 31 March 2027 (The Week/PTI, 27 March 2026).
Whole beans store well; meal and oil keep less well. USDA's October 2026 WASDE puts 2025/26 world ending stocks at 124.9 Mt, a stocks-to-use ratio of 28.9%, down from 30.6% in 2024/25. Use of 432 Mt exceeds output of 429 Mt. China holds 44.4 Mt, about 36% of the total, a smaller share than for maize or wheat. Seasonal tightness matters. US old-crop supplies dwindle from spring until the new crop arrives in late August (Morgan, pdf p. 455). In 1973 only 2 million tons was left over from the previous crop, and prices topped $10 a bushel (pdf p. 311).
World stocks (USDA)
| Season | Production | Use | Ending stocks | Stocks-to-use | of which China |
|---|---|---|---|---|---|
| 2024/25 | 428.1 | 412.1 | 126 | 30.6% | 35% |
| 2025/26 Est. | 429.2 | 432.3 | 124.9 | 28.9% | 36% |