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US soybean meal exports reached a record 14.4 million metric tons in the 2024 marketing year, valued at $6.7 billion and up 10% from the prior year. Expanding crush capacity, driven by renewable diesel demand for soybean oil, is producing more meal for export buyers.
Record meal exports and rising crush capacity add supply to global meal markets, which is bearish for meal prices, while strong buyer demand underpins the export trade.
agweek.comAriana SchumacherDec 23, 2024After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
