The 2024 outlook for the soybean market indicates a significant 40% reduction in ending stocks from the previous season, with exports expected to decrease from 101.86 million tonnes in 2023 to 94 million tonnes. Despite a slight 1% increase in the amount crushed, reaching 54.3 million tonnes, and a substantial rise in imports to 650 thousand tonnes from 181 thousand tonnes, the total demand for soybeans is projected to fall by 5% to 151.3 million tonnes. Soybean meal production is set to slightly increase, while exports of soybean meal and oil are anticipated to decline, with soybean oil production remaining stable and domestic consumption increasing.