Brazil soybean meal exports reach record in 2025 amid growing EU demand, low prices

A forecast 2026 bumper soybean crop in Brazil, partnered with a projected high crushing rate, is poised to pressure already-low South American soybean meal prices this year and keep the EU as a top consumer. Brazil exported a record 23.3 million metric tons of soybean meal in 2025, with 11.7 million mt, or 50.2%, going to the EU, according to data from the Brazilian Secretariat of Foreign Trade. The Netherlands, France, and Spain were the main EU buyers. It was the first time in six years that the EU accounted for over half of Brazilian exports. The last time it happened in 2019, Brazil exported 16.69 million mt, with the EU taking 8.83 million mt, or 52.9%. S&P Global Energy CERA estimates that Brazil’s soybean meal exports, which have surged by 70% over the last decade, will grow to a new record of 24.5 million mt in 2026, a 5.2% increase year over year. The key driver of the EU’s consumption of Brazilian soybean meal has been low prices, as European purchase prices are ...