Soybean meal futures moved lower across most contracts, tracking weakness in the soy complex. Pressure came from beneficial Midwest rain forecasts and delivery activity against August meal contracts, keeping the market on a downward bias.
Soybean meal futures fell on Thursday after weekly USDA data showed meal export sales well below trade expectations. The weak demand signal outweighed ongoing soybean export sales and left meal prices lower.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Soybean Meal | China | FOB | USD 433.49/MT | May 2026 |
| Soybean Meal | India | CIF | USD 500.83/MT | May 2026 |
| Soybean Meal | USA | CIF | USD 552.68/MT | May 2026 |
| Soybean Meal | Brazil | CIF | USD 565.49/MT | May 2026 |
| Soybean Meal | Canada | CIF | USD 558.49/MT | May 2026 |
| Soybean Meal | China | FOB | USD 442.40/MT | April 2026 |
| Soybean Meal | India | CIF | USD 492.28/MT | April 2026 |
| Soybean Meal | USA | CIF | USD 529.40/MT | April 2026 |
| Soybean Meal | Brazil | CIF | USD 563.50/MT | April 2026 |
| Soybean Meal | Canada | CIF | USD 529.40/MT | April 2026 |
Stay updated with the latest Soybean Meal prices, historical data, and tailored regional analysis
In China, Soybean Meal prices were about RMB 3.02/kg in April and ~RMB 2.93/kg in May, showing a around 2.9% decrease. The decline was mainly driven by better soybean availability, active crushing, and ample meal supply. China’s May soybean imports reached 11.79 MMT, and June arrivals were expected to exceed 10 MMT, keeping crushers well covered. Crushing volumes near 2.2 MMT also increased soybean meal availability, reducing the need for aggressive feed-sector procurement. In contrast, India’s Soybean Meal prices rose from about INR 46.72/kg in April to ~INR 47.58/kg in May, showing a approx. 1.8% increase. The Indian market gained support from firmer feed demand and tighter local availability compared with China. Global supply remained comfortable, led by large soybean export availability from Brazil, but steady crush demand and feed usage prevented a sharper correction.
Analyst Insight
According to Procurement Resource, near term, soybean meal prices may stay range bound. Chinese supply pressure can cap gains, but feed demand and regional availability gaps may keep India relatively firm.
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The price of soybean meal in China rose during Q1 of 2026, following the trend of an increase in the price of feedstocks. Soybean meal prices averaged ~ RMB 3.17/kg in January while climbing to ~ RMB 3.30/kg in March, representing an overall increase of 5.30%. The main reason behind such an increase in soybean meal prices was the country's heavy dependence on imported soybeans. Changing international trade flows toward South American soybeans made imports possible but restricted supply due to changing logistics needs. Higher import activity in the livestock sector for use in animal feed, as well as imported soybeans used in making edible oils, maintained steady demand. Meanwhile, geopolitical issues in the Middle East impacted shipping and raised transport costs due to delays in delivery and higher freight charges. Despite a sufficient global soybean supply, these logistical constraints and steady demand supported prices toward the end of the quarter, preventing any decline.
Soybean meal is the by-product of the soybean oil extraction process. It is widely used for its crude protein content. Soybean meal serves as the most important protein source to feed the farm animals. It is also known as a source of metabolisable energy. Sometimes, soybean meal is also prepared from the residue left after oil extraction.
Animal feed, Soy flour, Beverages (like soy milk), Dietary supplements, Healthcare products
SunOpta Inc, Grain Millers, Inc, Adams Group, Simmons Grain Company, Professional Proteins, Ltd.
CurrencyUS$ (Data can also be provided in local currency)
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In this process, extraction of soybean oil from soybean flakes is carried out with the help of solvent. In the regions like the US, almost all soybeans (99%) are solvent-extracted. This is considered as the most efficient method as only 1.5% oil is left in the resulting Soybean Meal.
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