The forecasted consumption of soybeans from the farm gate in Canada was set to grow moderately from 2024 to 2028, with an increase from 3.01 to 3.19 million metric tons. The growth rate year-on-year remained relatively stable, achieving an average annual compound growth rate of approximately 1.5% over the five-year forecast period. This increment represents a steady demand trend compared to historical data leading up to 2023.

Future trends to watch for:

Impact of innovative agricultural practices on yield, potentially affecting supply and prices.
Changes in trade policies or international demand shifts impacting exports and domestic consumption dynamics.
Emerging consumer dietary shifts promoting plant-based diets that may influence domestic market demand for soybeans.