The data indicates that soybean production in Canada is on a steady upward trend from 2024 to 2028, with production expected to grow from 6.8 million metric tons in 2024 to 7.24 million metric tons in 2028. The year-on-year growth is modest, approximately 1.76% in 2025, 1.59% in 2026, 1.42% in 2027, and 1.54% in 2028, demonstrating a consistent positive trajectory for Canadian soybean production. The compound annual growth rate (CAGR) over the five-year period is approximately 1.55%.
Future trends to watch for in the Canadian soybean market include:
- Climate variations and their impact on agricultural output.
- Technological advancements in agriculture and their adoption rate.
- Changes in international demand and trade agreements affecting exports.
- Domestic policy changes regarding agricultural support and sustainability initiatives.
