The United States is a major producer of soybeans worldwide, with China importing the largest amount of U.S. grown soybeans of any country as of 2021. In that year, China imported nearly 14.15 billion metric tons of soybeans from the United States.

Soy foods Soybeans are naturally high in protein and hence a popular ingredient in vegetarian and vegan cuisine. Soy milk is a vegan and lactose-free alternative to cow’s milk, and soy sauce features heavily in East Asian cuisine. Tofu, tempeh, and miso are also all derived from soy. In the United States, the market value of soy food is expected to reach 9.6 billion U.S. dollars by 2020, up from 4.6 billion dollars in 2014.

Soybean production in the United States The United States produces the highest volume of soybeans of any country, at around 120 million metric tons in 2020/2021. In the previous year, the total value of U.S. soybean production amounted to about 39.13 billion U.S. dollars. Within the United States, the states with the most soybean cultivation are located in the Midwest. Illinois topped the list with over 673 million bushels of soybeans produced in 2021.

Discover the potential effects of China's new tariffs on US soybean exports, as shipments race against the clock to reach their destination before the additional duties are enforced.

In March 2025, soybean imports to China amounted to approximately **** billion U.S. dollars, decreasing by around **** percent compared to the same period of the previous year. Despite the seasonal fluctuation in soybean imports, China remains the largest soybean importer in the world. Global top market for soybeans As a major oilseed and protein meal product, soybean is very important in the Chinese diet. Traditional food uses of soybeans include soy milk, tofu, and tofu skin. Soybean imports to China have been increasing. In 2024, more than *** million metric tons of soybeans were imported to China, over ten times as much as the import volume in 2000. The global soybean import volume amounted to around *** million metric tons in 2023/24. In addition, China’s domestic soybean oil demand reached around **** million metric tons in 2023. Brazil – China's largest soybean supplier Soybean is Brazil’s main export commodity. In 2023, Brazil held the top rank as China’s largest soybean supplier with a market share of about ** percent. The United States and Argentina were also among the top three soybean supplying countries to China. In 2023, Brazilian soybean exports to China amounted to around ** billion U.S. dollars. Soybean production in Brazil was forecasted to amount to over *** million metric tons in 2024, and it was expected to exceed *** million tons by 2033. Additionally, the harvesting area of soybeans was forecasted to exceed **** million hectares by then.

This statistic shows the amount of soybeans exported from the U.S. between 2011/12 and 2023/24. For 2023/24, an export of just under two million bushels is forecast. This would constitute a slight decrease from the 1.99 million bushels exported in 2022/23.

U.S. soybean exports could fall by 20% amid ongoing trade tensions with China, affecting prices and market dynamics.

The US soybean farming industry is navigating significant changes in the current period, with soybean prices determining the initial rise and recent decline in industry performance. These prices have been influenced by several key factors, including the growing demand for biofuels and mixed consumer perceptions regarding soy products. The demand for soybean oil in biofuel production surged due to supportive policies like the Renewable Fuel Standard and rising crude oil prices, creating a lucrative market for soybean producers. However, subsequent drops in fertilizer and crude oil prices, paired with record-high soybean production, have sharply dropped soybean prices, bringing revenue and profit down with them as farmers struggle to balance costs with lower incomes. Industry has shrunk a compound annual growth rate (CAGR) of 2.6%, with a decrease of 8.7% in 2025, reaching an estimated $44.2 billion. US soybean exports are facing mounting challenges due to competitive pressures abroad and quickly evolving trade policy. Brazil’s increased production and improved export infrastructure have strengthened its position as a major supplier, particularly to China, which is reducing its reliance on US soybeans. This shift threatens US exports and compels American farmers to reassess their strategies, focusing on market diversification and emphasizing quality and sustainability to remain competitive. Rising geopolitical tensions and newly imposed tariffs, such as those affecting key markets like the EU, Canada and China, have further complicated trade, impacting US farmers' access and pricing power in these vital markets. Through the end of 2025, soybean prices are initially projected to decline due to increased production and growing global supplies. However, as climate change impacts crop yields through extreme weather and pest challenges and supplies become limited prices will be pushed upward alongside rising global demand. Subsidies will continue to play a vital role in supporting farmer incomes amids these fluctuations, providing some stability to an otherwise highly volatile industry. However, the industry faces significant uncertainty due to the ongoing USDA funding freeze is creating significant uncertainty, particularly where government support and subsidies are concerned. This freeze is affecting a wide range of agricultural programs including conservation efforts, market development, research and technical assistance. Over the next five years, the industry is expected to grow at a CAGR of 1.3%, with revenues reaching $47.1 billion by the end of 2030.

Soybean exports from Brazil to China amounted to 38.9 billion U.S. dollars in 2023, an increase of around 22 percent in comparison to the previous year. China is by far the leading destination for Brazilian soybean exports, accounting for nearly three-quarters of the export value.

In 2024, China's soybean import volume amounted to approximately *** million metric tons, representing an increase of about nine percent from ***** million metric tons in the previous year. Soybean is one of the most imported agricultural products in China.

U.S. farmers are concerned that the recent tariff pause with China may not boost soy sales, as Brazil maintains a competitive edge and some tariffs remain.

China Exports of soybeans, whether or not broken to Argentina was US$10 during 2022, according to the United Nations COMTRADE database on international trade. China Exports of soybeans, whether or not broken to Argentina - data, historical chart and statistics - was last updated on July of 2025.

In 2023, exports of soybean from Brazil reached nearly *** million metric tons, an increase of ** percent when compared to the previous year. This is also the highest figure reported in the decade. In turn, Brazilian soybean exports were valued at approximately **** billion U.S. dollars that year. An undisputed market leader As Brazil’s annual soybean exports nearly tripled in one decade, the South American country went on to become the largest exporter of this oilseed in the world. This result is mostly associated with an increasing demand from China, the leading destination for Brazilian soybean exports. Meanwhile, global soybean meal and soybean oil exports are dominated by Brazil’s southern neighbor, Argentina. Nevertheless, the Portuguese-speaking country ranks second worldwide. Domestic soybean demand also on a rise Parallel to a growth in international demand for this commodity, the domestic consumption of soybean in Brazil has also seen a continual rise in the past decade, estimated at more than **** million metric tons in 2022/23. In the industrial sector, this oilseed is mainly associated with the biofuels segment. In 2022, more than **** million cubic meters of soybean oil were used for biodiesel diesel production in Brazil, making it the leading raw material used for this purpose.

Brazil Exports of soybeans, whether or not broken to China was US$31.5 Billion during 2024, according to the United Nations COMTRADE database on international trade. Brazil Exports of soybeans, whether or not broken to China - data, historical chart and statistics - was last updated on July of 2025.

China Exports of soybean oil and its fractions, not chemically modified to United States was US$408.97 Thousand during 2024, according to the United Nations COMTRADE database on international trade. China Exports of soybean oil and its fractions, not chemically modified to United States - data, historical chart and statistics - was last updated on June of 2025.

Speculators remain bullish on Chicago corn and soybeans due to potential trade progress, despite mixed sentiments and ongoing trade tensions.

China is by far the leading country of destination for soybean exports from Brazil. In 2023, the Asian country accounted for ** percent of the Brazilian soybean export value, which totaled some **** billion U.S. dollars. Argentina trailed in second, as the destination for around **** percent of the export value. Meeting China's demand China is the leading importer of soybeans worldwide, with high demand for feeding livestock and producing soybean cooking oil. In 2022, Brazil ranked as China's largest soybean supplier, providing nearly ********** of the Asian country's imports of this oilseed. The South American country has recently benefitted from escalating trade wars between China and the U.S., which have led Chinese food and agricultural industries to seek out an alternative supplier. Growing market for Brazilian soybeans As soybean exports to China strongly increased from 2016 to 2023, Brazil's soybean exports reached an all-time peak in 2023 & more than double that of the first period observed. And this trend shows no sign of subsiding. As of 2023, Brazil has outpaced the United States to become the leading producer of this oilseed worldwide, with its area planted with soybean rising every year of the past decade.

United States Exports of soybean oil and its fractions, not chemically modified to China was US$95 Thousand during 2024, according to the United Nations COMTRADE database on international trade. United States Exports of soybean oil and its fractions, not chemically modified to China - data, historical chart and statistics - was last updated on July of 2025.

In 2024, Chinese exports of trade goods to the United States amounted to about 438.95 billion U.S. dollars; a significant increase from 1985 levels, when imports from China amounted to about 3.86 billion U.S. dollars. U.S. exports to China Compared to U.S. imports from China, the value of U.S. exports to China in 2020 amounted to 427.23billion U.S. dollars. China is the United States’ largest trading partner, while China was the United States third largest goods export market. Some of the leading exports to China in the agricultural sector included soybeans, cotton, and pork products. Texas was the leading state that exported to China in 2020 based on total value of goods exports, at 16.9 billion U.S. dollars. U.S. - China trade war The trade war between the United States and China is an economic conflict between two of the world’s largest national economies. It started in 2018 when U.S. President Donald Trump started putting tariffs and trade barriers on China, with the intent to get China to conform to Trump’s wishes. President Trump claimed that China has unfair trade businesses. As a result of this trade war, it has caused a lot of tension between the U.S. and China. Nearly half of American companies impacted by the U.S.-China trade tariffs said that the trade war increased their cost of manufacturing. The healthcare product industry has suffered the most from the trade war in regards to reduced profits.

Exports of soybean from Brazil amounted to approximately **** billion U.S. dollars in 2023, an increase of around ** percent in comparison to the previous year. This is the highest figure reported in the decade. The South American country is the largest soybean exporter in the world. China is by far the leading destination for Brazilian soybean exports, accounting for nearly ************** of the export value.

China Exports of oil-cake, solid residues resulting from extraction of soya-bean oil to United States was US$4 during 2023, according to the United Nations COMTRADE database on international trade. China Exports of oil-cake, solid residues resulting from extraction of soya-bean oil to United States - data, historical chart and statistics - was last updated on June of 2025.

China Exports of oil-cake, solid residues resulting from extraction of soya-bean oil to Laos was US$989.47 Thousand during 2024, according to the United Nations COMTRADE database on international trade.