In 2023, Brazil's soybean exports hit a record 3.74 billion bushels, a 29% increase, surpassing the US's 14% decline.

Brazil's soybean exports reached a record 3.74 billion bushels in 2023, a 29% increase from the previous year, surpassing the US, which experienced a 14% decline in shipments. Over the last 20 years, Brazil's soybean exports have increased by 431%, mainly in the most recent decade. Together, Brazil and the US account for over 80% of global soybean exports, with Brazil now surpassing the US in shipments since 2013.