The soybean supply in Canada is forecasted to grow from 7.93 million metric tons in 2024 to 8.42 million metric tons by 2028. The data represents a consistent year-on-year increase with a compound annual growth rate (CAGR) over the next five years. In 2023, the actual supply was slightly lower, suggesting a positive growth trend moving forward. The year-on-year variation highlights a steady growth pattern with incremental increases each year.
Future trends to watch for include the potential impact of climate change on crop yields, shifts in global demand and trade policies, technological advancements in agriculture, and fluctuations in soybean prices. Monitoring these factors will be crucial in anticipating changes in supply dynamics.
