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Soybean Exporters: Brazil, the United States and the Other Suppliers
Soybeans are one of the biggest agricultural cargoes in the world. Two exporters lead the market and one importer buys more than half of what is traded.
The exporters
OEC trade data for 2024 shows world exports of soybeans of about USD 80 billion. Brazil had 54.0 percent of the trade and the United States 30.4 percent. Paraguay (3.9), Canada (3.1), Argentina (2.4) and Ukraine (1.7) were the next exporters.
The buyers
China bought about 58.6 percent of the soybeans traded in the world. Mexico (3.7 percent), Argentina (3.6), Spain (3.1), Japan (2.2) and Thailand (2.2) were next. Most of the beans are crushed into meal and oil.
Seasons
Brazilian beans are harvested in the first months of the year, and exports peak from about March to July. United States beans are harvested in autumn and shipped mainly from autumn through winter. The two seasons alternate, so supply to Asia is available through most of the year.
Ports and ships
Brazil ships from Santos and Paranagua in the south and from the northern ports of the Arco Norte. The United States ships from the Gulf, the Mississippi river and the Pacific Northwest. Cargoes go on Panamax and Supramax ships; see the Shipfixing guide to Argentina grain shipping for a river-port example of draft limits.
Quality terms
Contracts name the moisture, the foreign matter, the damaged beans and the oil and protein content, and say whether the beans are genetically modified. The importing country may ask for a phytosanitary certificate and a fumigation certificate.
On Comdity
See the offers on the soybeans page, and the related soybean meal and vegetable oils. Read offer and counteroffer.
Contract terms
Soybeans are traded under standard contracts of the grain trade, with rules on quality, weighing and arbitration. The price is often quoted against the exchange price in Chicago, with a premium or discount for the port and the month of shipment. A contract names the origin, the shipment period, the inspection company and the rules for tolerance on the quantity.
What to check before you buy
Ask for the quality limits and the certificates the importing country needs, including the phytosanitary and fumigation certificates. Check whether your market accepts genetically modified beans or asks for a specific origin. Compare the offers for the same shipment month, because the price differs between the Brazilian and the United States seasons, and make sure the port can load the size of ship you plan to use.
The largest exporting and importing countries (2024)
| Top exporting countries | Share of world trade |
|---|---|
| Brazil | 54% |
| United States | 30.4% |
| Paraguay | 3.9% |
| Canada | 3.1% |
| Argentina | 2.4% |
| Ukraine | 1.7% |
| Uruguay | 0.6% |
| Russia | 0.4% |
| Top importing countries | Share of world trade |
|---|---|
| China | 58.6% |
| Mexico | 3.7% |
| Argentina | 3.6% |
| Spain | 3.1% |
| Japan | 2.2% |
| Thailand | 2.2% |
| Germany | 2.1% |
| Egypt | 2.1% |
Source: OEC (BACI/CEPII), 2024, customs codes 1201. The figures count trade by every mode of transport, not only by sea.
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