# Soybean meal eases as buyers await Tuesday’s WASDE > Corn edged up 0.2% to $209.03/mt, while soybean meal fell 0.6% to $390.42/mt in the latest daily benchmarks. DDGS and fishmeal remain high in their ranges, but their monthly benchmarks are dated; check current delivered offers before changing coverage. - By: Feedsoft Markets Desk (https://feedsoft.ai/authors/markets-desk) - Published: 2026-11-09T11:30:33.137Z - Section: Daily Brief - Page: https://feedsoft.ai/brief/2026-11-09 - Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Fishmeal](https://feedsoft.ai/c/FISHMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md) Corn edged up 0.2% to $209.03/mt, while soybean meal fell 0.6% to $390.42/mt in the latest daily benchmarks. DDGS and fishmeal remain high in their ranges, but their monthly benchmarks are dated; check current delivered offers before changing coverage. ## Grains and DDGS Corn is at 23% of its 52-week range. U.S. corn export commitments were 30% of USDA’s annual target by October 29, versus a five-year average of 42% for that week. DDGS was $225.70/mt at the top of its range in the September monthly benchmark; China’s November 9 domestic DDGS prices were mostly steady to higher. The proposed opening of Mexico to U.S. ethanol exports is a demand development to watch, not yet a confirmed increase in shipments. ## Protein meals Soybean meal’s latest daily decline brings it to 51% of its 52-week range. Managed money remained net long 108,367 meal contracts on November 3, at the 91st historical percentile, despite cutting 60,347 contracts in the week. Fishmeal was $2,840/mt in the October monthly benchmark, down 2.6% on the period but still at 93% of its range. ## Fats and delivery costs Soybean oil was $1,555.74/mt, near unchanged on the day and 19.2% higher year over year. Palm oil fell 6.1% over five periods through November 6; its latest daily benchmark was $1,075/mt. Diesel was down 0.6% on the day but up 82.2% year over year, making delivered quotes important; the October ocean grain freight benchmark was at its 52-week high. ## Livestock Lean hogs closed at $58.84/cwt on November 6, at the bottom of their 52-week range and down 29.7% year over year. Live and feeder cattle were also in the lower quarter of their ranges. Class III milk fell 5.6% in its latest daily reading on November 8, following a sharp earlier increase. ## Feed cost For the week ending November 13, turkey starter and tilapia grow-out had the largest reported weekly declines, each down 0.1%; most other formulas were effectively flat at the reported precision. Broiler grower was $284.20/t, down 4.8% over four weeks; its weekly soybean meal contribution was -$0.15/t, partly offset by corn at +$0.09/t. These are re-solved least-cost templates, not a mill’s actual costs; ingredient drivers were not provided for turkey or tilapia. ## Number of the day: 66% U.S. soybean export commitments as a share of USDA’s annual target. As of October 29, commitments were ahead of the five-year average of 54% for that week, indicating a stronger sales pace for soybeans than for corn or soybean meal. ## What to watch - 2026-11-09 16:00 ET: USDA Crop Progress and Condition. - 2026-11-10 12:00 ET: USDA WASDE supply-and-demand report. - 2026-11-11 10:30 ET: EIA Weekly Petroleum Status, including ethanol. - 2026-11-12 08:30 ET: USDA export sales. - 2026-11-13 15:30 ET: CFTC Commitments of Traders, especially soybean meal positioning. ## Stories cited - 2026-11-09 · [Mysteel Daily: DDGS Prices Steady to Higher, Market Cautious (20261109)](https://feedsoft.ai/events/89243-mysteel-daily-ddgs-prices-steady-to-higher-market-cautious-20261109.md) - 2026-11-09 · [US Ethanol Exports Poised for Growth in Mexico and Brazil](https://feedsoft.ai/events/89269-us-ethanol-exports-poised-for-growth-in-mexico-and-brazil.md) - 2026-11-09 · [As diesel prices soar, truckers in Pennsylvania struggle while keeping America moving](https://feedsoft.ai/events/89249-as-diesel-prices-soar-truckers-in-pennsylvania-struggle-while-keeping-america.md) --- Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.