★ Globally, soybean opening stock is reported at 1251.2 lakh tonnes, with production at 4276.8 lakh tonnes, imports at 1860.6 lakh tonnes, consumption at 4251.7 lakh tonnes, and exports at 1876.3 lakh tonnes. After accounting for these figures, the ending stock is estimated at 1260.7 lakh tonnes. Compared to the June report, the opening stock has increased, while production, imports, and consumption figures have all been revised downward. In June 2025, the projected ending stock was 1253 lakh tonnes, which has now been raised.

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★ In the US, soybean opening stock is reported at 95.3 lakh tonnes, production at 1179.8 lakh tonnes, consumption at 721.2 lakh tonnes, and exports at 474.9 lakh tonnes, resulting in an ending stock of 84.4 lakh tonnes.

★ In the June report, production was slightly higher at 1181.2 lakh tonnes, with consumption at 707.6 lakh tonnes and exports at 494 lakh tonnes, leaving an ending stock of 80.3 lakh tonnes.

★ When comparing June and July, the increase in production has led to a higher projected ending stock despite a drop in exports.

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★ No significant changes were observed in Argentina's figures.

★ Opening stock is 247.5 lakh tonnes, production is 485 lakh tonnes, consumption is 505 lakh tonnes, and exports are 50 lakh tonnes, leaving an estimated ending stock of 249.5 lakh tonnes.

Opening stock: 361.1 (June report: 334.4)

Production: 1750 (No change from June)

Consumption: 623 (No change from June)

Exports: 1120 (No change from June)

Ending stock: 369.6 (June report: 342.9)

★ Overall, the USDA July report shows no major changes in global soybean stock levels. Only the US saw a notable change due to production adjustments.