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NOPA's monthly report showed U.S. soybean crush in August came in below expectations at an 11-month low. Unwinding of long soybean oil/short soybean meal arbitrage positions added buying demand for meal, and soybean meal futures rallied sharply.
A smaller crush cuts domestic meal output, tightening supply, while arbitrage unwinding adds demand. Both factors support meal prices for feed buyers.
sunsirs.comSep 16, 2026After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
