Harvest Delays Tighten Soybean Meal Supply
Harvest delays in September cut soybean crush, reducing new bean supply and lowering soybean meal stocks. The tighter supply could lift soybean meal prices.
Soybean Meal Price Trend Analysis 2026: Market Insights, Price Drivers, Latest News, Supply Demand Analysis & Historical Prices
Written ByShriya Singh
Soybean Meal Latest Development
Record Soybean Crush Boosts Meal Demand
USDA forecasts a record 2.78 billion bushels of soybean crush, driven by strong biofuel demand. The surge in crush activity is expected to lift soybean meal demand and support higher prices.
Soybean Meal Price Trend Q3 2026
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Soybean Meal | China | FOB | USD 463.79/MT | August 2026 |
| Soybean Meal | India | CIF | USD 554.58/MT | August 2026 |
| Soybean Meal | USA | CIF | USD 619.41/MT | August 2026 |
| Soybean Meal | Brazil | CIF | USD 606.22/MT | August 2026 |
| Soybean Meal | Canada | CIF | USD 634.41/MT | August 2026 |
| Soybean Meal | China | FOB | USD 444.17/MT | July 2026 |
| Soybean Meal | India | CIF | USD 550.98/MT | July 2026 |
| Soybean Meal | USA | CIF | USD 631.66/MT | July 2026 |
| Soybean Meal | Brazil | CIF | USD 615.78/MT | July 2026 |
| Soybean Meal | Canada | CIF | USD 640.16/MT | July 2026 |
Stay updated with the latest Soybean Meal prices, historical data, and tailored regional analysis
Soybean Meal Price Trend Q3 2026
- Soybean Meal prices remained firm in Q3’26 as stronger soybean export demand and weather concerns tightened the feedstock balance.
- Record US soybean production limited supply pressure, but stronger exports and weaker crop conditions supported the feedstock market.
- Feed demand from livestock and poultry remained supportive, while weaker US soybean crush activity provided additional support to meal availability.
In the US, Soybean Meal was assessed at a monthly average of approx. USD 631.66/MT and around 640 USD/MT during July 2026. Prices remained supported during Q3’26 as stronger soybean exports tightened the underlying supply balance despite a record US crop. USDA raised soybean exports to 1.69 billion bushels, while strong Chinese buying and export commitments increased competition for available supplies. Hot and dry weather across key US growing regions and low crop-condition ratings also supported soybean values, raising input costs for meal production. Meanwhile, weaker-than-expected US soybean crush activity supported the meal market by limiting near-term availability. Brazil and Canada also remained important supply origins. Downstream demand from poultry, livestock, and aquaculture feed remained the main consumption driver, while meal demand benefited from its role as a high-protein feed ingredient.
Analyst Insight
According to Procurement Resource, in the near term, Soybean Meal prices are likely to remain supported by export demand and feed consumption, although increased soybean harvest availability could moderate upward pressure.
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- Soybean meal prices showed mixed trends in Q2’26, easing in some markets while firming in others due to varying supply-demand balances and procurement patterns.
- Comfortable soybean arrivals and strong global availability kept feedstock pressure low, supporting steady crushing activity and maintaining adequate meal supply across major consuming markets.
- Feed demand provided underlying support to the market, but ample meal output and sufficient inventories reduced the need for aggressive procurement by buyers.
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.
About Soybean Meal
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.
Soybean Meal Product Detail
Industrial Uses
Animal feed, Soy flour, Beverages (like soy milk), Dietary supplements, Healthcare products
Supplier Database
SunOpta Inc, Grain Millers, Inc, Adams Group, Simmons Grain Company, Professional Proteins, Ltd.
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe
Germany, France, United Kingdom, Italy,Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America
United States and Canada
Latin America
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Soybean Meal Production Processes
- Production of Soybean Meal via Solvent-Extraction Of Soybean Oil.
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.
Frequently Asked Questions
Soybean meal prices remained supported during Q1 2026 by strong livestock feed demand and active soybean crushing across major producing regions. Higher crushing improved meal availability, while firm poultry and swine feed consumption sustained buying interest. In China, soybean meal prices increased around 5.30% between January and March, while Brazil recorded an increase of approximately 10.78%, supported by export demand and feed-sector consumption.
Soybean meal prices are expected to remain supported by strong global feed demand, particularly from poultry, swine, and aquaculture sectors. USDA forecasts global oilseed meal trade at a record 119 million tons in 2026/27, with soybean meal exports rising 5% to 88 million tons and consumption increasing 3% to 405 million tons. Expanding soybean crushing in Brazil and the United States may improve meal availability and moderate sharper price increases.
Soybean meal supply depends directly on soybean crushing because meal is produced as a co-product during soybean oil extraction. Larger soybean harvests in Brazil, the United States, and Argentina typically support higher crushing activity and meal availability. Crushing margins, biofuel-driven soybean oil demand, and export demand also influence meal production volumes and global supply conditions.
Seasonal weather conditions in Argentina remained an important market driver during early 2026. USDA reported that January dryness affected soybean crop conditions, particularly in southeastern Buenos Aires where rainfall reached near-historic lows. Although February rains stabilized crop conditions and maintained production near 48 MMT, weather-related supply risks continued supporting soybean meal market sentiment and crush-related pricing expectations.
Argentina, Brazil, and the United States dominate global soybean meal exports due to large soybean harvests and crushing industries. Major import demand comes from feed-intensive regions including the European Union, Vietnam, Indonesia, and Mexico, where livestock and aquaculture sectors rely heavily on imported protein meal for feed manufacturing.
Soybean meal prices are influenced by soybean crop size, crushing margins, livestock feed demand, export availability, freight costs, and currency movements in major producing countries. Prices are also affected by competing protein meals such as rapeseed and sunflower meal, while poultry, swine, dairy, and aquaculture demand remain key consumption drivers.
Soybean meal is a major protein ingredient in animal feed, so growth in poultry, swine, cattle, and aquaculture production directly raises consumption. Strong feed demand can absorb higher meal output from increased crushing and prevent sharp price declines.
Biodiesel and renewable diesel demand raise soybean oil consumption, encouraging higher soybean crushing. This increases soybean meal output as a co-product. Higher meal availability can pressure prices, unless feed-sector demand is strong enough to absorb the additional supply.
Indonesia issued Minister of Trade Regulation No. 11 of 2026, placing soybean meal under tighter agricultural import controls effective May 8, 2026. The regulation may increase licensing requirements and slow import approvals for feed-sector buyers, potentially affecting regional soybean meal trade flows and procurement activity in Southeast Asia.
Procurement Resource employs a structured methodology combining primary research, secondary market data, analytical models, and validation processes to assess soybean meal prices and trends. Price evaluations incorporate supply-demand dynamics, feedstock movements, trade flows, and value chain analysis, supported by continuous market monitoring to ensure accurate and reliable insights.
Our Price Analysis Methodology
About the Author
Shriya Singh
Business Insights Analyst
Helping procurement and sourcing teams navigate complex markets through data-driven research, category intelligence, and actionable insights - with a focus on identifying market trends, analyzing supply-side developments, and delivering clear intelligence that supports informed business decisions.
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