Uruguay: Oilseeds and Products Annual

Uruguay's soybean production is set to rebound sharply in MY2026/27 following a drought-reduced crop the prior year, with soybean production forecast to recover to 3.1 MMT on improved yields and a modest expansion in area to 1.3 MHA. Exports are projected to rise to 2.8 MMT, driven by sustained demand from China, while crush remains limited at 150,000 MT due to Uruguay's small crush capacity. Despite improved production prospects, producers continue to face tight margins amid low global prices, high input costs, and elevated land rents. Rapeseed area is forecast to expand 10 percent to 297,000 hectares as producers shift away from wheat and barley in response to weak returns and stronger vegetable oil prices. Uruguay's soymeal and soybean oil sectors remain small and import dependent, with little domestic demand growth.