The article discusses the significance of the soybean foreign market and its major players, including China, Brazil, and the European Union. It covers the factors driving the demand and supply of soybeans, such as changing dietary preferences and economic conditions. The article also highlights the challenges faced by the market, such as trade disputes and changing import policies. Overall, it emphasizes the importance of understanding the dynamics of the soybean foreign market for exporters and importers.

Revenue for soybean farmers has grown because of growth in soybean prices and exports. Exports account for the majority of revenue, so fluctuations in international demand have an outsized impact on revenue. Exports were artificially low in 2019, as they fell to a decade low, providing a small base on which revenue could more easily grow. Trade tensions between Canada and China have prevented further growth in exports. The Canadian government has criticized several social policies enforced by the Chinese administration. Canada has also supported its ally, the United States, in trade disputes with China. Chinese imports of Canadian goods fell sharply in 2019, but have gradually rebounded and are now at 70.0% of 2018 levels. Revenue for soybean farmers has grown at a CAGR of 6.4% to $4.7 billion through the end of 2024, despite a slump of 0.9% in 2024 alone as soybean prices are on the downswing following the COVID-19 pandemic. Global demand for Canadian soybeans has been high in recent years. A relatively weak Canadian dollar has made domestic products more affordable for foreign buyers, stimulating export growth. Farmers are increasingly using genetically modified seeds (GMO) to improve yields. Output per farm has continued to grow in recent years with the use of GMO seeds. Growing soybean prices have led to expanding profit for farmers. Moving forward, growing export markets and increasing farm yields will prompt revenue growth, albeit at a slower rate than in recent years as prices are forecast to remain more steady. In particular, demand from China will climb as the economy opens up following the country's zero-COVID policy. Revenue is forecast to increase at a CAGR of 1.7% to $5.1 billion through the end of 2029.